Solutions for Your Accounts Payable DepartmentWe’ve cut our teeth on AP automation and are leading providers. Learn more about our AP solutions below.
Optimizing AP Departments for Over 20 Years
Streamline AP on the Fly
MHC offers comprehensive Accounts Payable (AP) document and financial transaction solutions that make it easy to process and research invoices, payments, and other documents critical to AP processes. Pay vendors on time to eliminate late fees and take advantage of early payment discounts.
Does Your AP Department Face Any of the Following Challenges?
Overwhelmed by Paper?
Do you still receive a majority of invoices in a paper format, forcing your organization to slowly process mass quantities of paper?
Does your organization have unique AP payment requirements that your ERP is not equipped to handle?
Late Payment Fees?
Do late payment fees due to slow invoice processing negatively impact your bottom line?
Do you struggle to find the procure-to-pay documents you need when you need them?
MHC AUTOMATION VIDEO
AP Invoice Automation Solution Overview
How We Solve Your Challenges
1. AP Invoice Automation
Decrease data entry. Increase visibility.
Improve financial management, speed up the invoice approval process, and increase visibility to payables in a way any CFO would desire with MHC’s Accounts Payable (AP) invoice automation solution.
What makes MHC’s solution so powerful?
MHC’s Accounts Payable invoice automation solution is powered by optical character recognition (OCR) technology and MHC’s flexible workflow processing engine. The solution captures data from emailed invoices or scanned paper, converts the characters into usable text, and processes the invoices via MHC’s workflow automation integrated with your AP business system.
Already have your own workflow automation system? No problem! MHC functionality integrates with other workflow systems so that you can leverage any investments you have already made. AP invoice automation allows AP to:
- Reduce manual data entry and repurpose data entry staff
- Improve accuracy, reducing the potential for human errors
- Increase visibility with up-front scanning and extraction of invoice data
As the percentage of AP invoice line items automatically captured increases, on-time payment rates go up and cost-per-invoice goes down plus your organization can take advantage of early payments.
2. AP Document & File Output
Buried in paper?
It’s difficult for any AP department to get work done when it is constantly overwhelmed with paper. MHC’s Accounts Payable document solutions streamline the creation of AP documents and transactions and allow AP to spend time managing financial controls instead of handling paper.
Your challenges, solved!
Does your enterprise resource planning (ERP) system limit your ability to produce the AP payment format you want?
- Our solutions extend your ERP’s functionality to provide customized AP document output so you can communicate more effectively with vendors and financial institutions.
Want to convert your manual AP check processes into secure, automated financial transactions?
- MHC’s electronic payment solutions automatically format payments to meet bank requirements so you can make electronic payments effortlessly and maintain a digital repository and history for increased visibility.
Are you planning to implement Positive Pay?
- Our Positive Pay solution makes fraud prevention easy by matching the checks you issue with those presented for payment.
Does your organization require centralized control of decentralized check and pay stub printing yet struggle to find an effective, economical way to do it?
- MHC’s secure distributed printing capabilities allow you to centrally control remote check printing without cumbersome coordination or costly overnight delivery of checks.
3. AP Workflow Automation
Tired of tracking down “misplaced” invoices?
When paper invoices are photocopied, filed, and inter-office mailed all over the organization, knowing the location of an invoice at any given moment is a guess at best.
MHC’s Accounts Payable Workflow Automation solution eliminates the guesswork. Invoice approvers can review or edit General Ledger (GL) account coding and submit invoices into the ERP electronic invoice interface.
Your challenges – solved!
Does your organization pay late fees to vendors or miss early payment discounts due to long invoice processing times?
- Accounts payable workflow automation speeds up the invoice approval process, allowing you to manage outstanding payables in a timely and cost-efficient manner.
Does lack of visibility into outstanding payables create miscommunication and frustration in your organization?
- Workflow automation reports provide AP administrators with visibility into invoices throughout the entire approval cycle. Extend visibility even further upstream with MHC’s AP Invoice Automation.
Does your existing ERP solution make AP invoice routing clunky or complicated?
- AP documents can be routed for approval without entry into the ERP, enabling greater flexibility than most ERP-owned automation software.
Have trouble finding the information you need for financial and audit controls?
- Fully audited processing and flexible search options enable speedier audits and invoice research.
Do invoices get stuck when approvers are too busy or out of the office, resulting in delayed processing?
- MHC supports multiple levels of substitute and proxy approver processing to keep your invoice approvals moving quickly.
4. Self-service Access to Vendor Documents
Provide vendors and suppliers digital access via Vendor Document Self-Service, which allows for greater visibility into your vendor management process while reducing print, saving both time and money.
Vendor Document Self-Service can be used to manage 1099s, AP payments, purchase orders, invoices, and other related documents.
5. Procure-to-pay (P2P)
Accounts payable is just part of the procure-to-pay process. Learn more about how your organization can optimize P2P processes.
Get to Know MHC
Find out how you can combine and configure MHC’s solutions to automate your most critical processes and empower teams to meet their goals.