We at Profitsflow are delighted to offer our EFACS customers a fully integrated automated accounts payable solution. – Profitsflow APS
Accounts Payable processing can be one of the most time-consuming administrative procedures in your office. We are delighted to announce the launch of our new product Profitsflow APS.
This product works in conjunction with the EFACS accounts module to automatically process the invoices you receive from your suppliers. The software captures the key information from the supplier invoice and routes the invoice to the required personnel for approval. It will automatically match the invoice against existing Purchase Orders and GRNs. This negates the requirement for manual processing thus saving you time and money.
Profitsflow APS software eliminates manual accounts payable processing by automating associated workflows thus reduces it to 4 online steps.
Step 1 – Suppliers, email invoices, statements, and related documents to a secure online address. These documents are stored within the software eliminating the need for paper copies.
Step 2 – Profitsflow APS automatically extracts data held in those documents. The data capture requirements can be easily modified by a system user. Capture fields can be added, edited and deleted as the required.
Step 3 – The data is forwarded to the relevant internal employee for secure, authorized approval
Step 4 –The approval, together with the data, is migrated to the EFACS ERP Software for payment, compliance, and financial accounting.
It really is that simple.
Some of the most beneficial features of the software include:
3 way matching of Matching of PO’s and GRN’s to Invoice. – The user is automatically warned of any difference in price and/or quantity between the Purchase Orders and/or the Goods Received Notes to ensure that the user has received exactly what has been ordered. Benefit: eliminates manual matching; ensures accuracy.
Watching for Price Increases – if prices of specified products / services increase above a set threshold, Profitflow APS Price Watch function notifies specified stakeholders within the user company. Benefit: eliminates manual research and overview of pricing; increases the likelihood users are receiving the best price for purchased products and services. Simplifying Complex Approval Processes – Examples include requests for approval can be automatically routed by specific sets or sub-sets of products (and their invoices) to specified employees, and/or products purchased in specified geographic markets (or regional areas) can be automatically routed to specified employees within those markets or elsewhere, and/or approval can be routed to a single headquarters office.