Banking

Accounts Payable Edition

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Executive Summary

The emphasis on cost containment and productivity enhancement has inspired organizations to seek out new ways to automate traditionally paper-based and labor-intensive processes. Imaging and Workflow Automation technologies are finding increasing acceptance with accounts payable professionals as a means to strengthen controls, drive out costs, and increase efficiencies. Organizations are able to convert paper invoices into digital images, store them in a Web-enabled repository for rapid retrieval, route invoices for approval using existing business rules, and extract data from them to enhance approval processing. These solutions share the goal of improving the way organizations manage the invoice receipt-to-pay cycle. However, not every solution follows the same approach or provides equivalent functionality at each step of the process.

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