Accounts Payable Automation SoftwareOur AP Automation software reduces touchpoints, freeing your users up to get more work done, better and faster.
You Have the Power to
Streamline Your Accounts Payable Process
Your day has so many components. When you’re not messing with paper invoices, you’re tracking down approvals. Calls from vendors asking about their payments. Other departments requesting information. The feeling of defeat when you realize that a payment will be late. Accounts payable is a three-ring circus and you’re in the center ring, trying to keep the show going.
Enter automation. With the flexibility of configurable workflows and ease of self-service access, MHC accounts payable automation software frees you up from the tedious, everyday tasks and allows you and your team to focus on more value-added work that supports the specific and unique goals of your organization. Leverage MHC’s proven technology to eliminate the need for manual intervention, streamlining your entire process while improving efficiencies throughout your team and, ultimately, your entire organization.
Discover MHC NorthStar,
Our Stellar AP Automation Solution
AP Automation Software has taken a step into the future. Introducing MHC NorthStar, our cloud-based intelligent workflow and content automation solution. In a sea of enterprise automation solutions that promise to be everything to everyone, MHC wants to provide you only what you need, only when you need it:
FLEXIBLE FUNCTIONALITY: Configurable workflows utilizing no-code technology give you autonomy from having to engage your IT department for each small, yet necessary, change to your AP process.
CONTENT-CENTRIC PROCESSES: Enhance productivity and impact with the ability to process high volumes of content while improving ease of creation and accessibility.
SCALABLE GROWTH: Give access to unlimited users with no extra fees, allowing the platform to flex and grow with your company, meeting the needs you have today while leaving space for what your organization will look like tomorrow.
BEST SERVICE PROVIDER: Proven levels of customer service and support ensure that you will always have the resources available to you to build and improve your AP process.
MHC Paves the Way in Enterprise AP Automation According to G2’s Fall 2021 Grid
Our team is constantly working to deliver our customers the most efficient day-to-day accounts payable operation imaginable. We are honored and humbled to receive their glowing endorsements and we promise to continuously strive to improve upon our solutions and service, helping our customers reach their ultimate goals.
"Document and Forms Generation, Accounts Payable Automation with OCR, integration with HR, Finance and Supply Chain ERP software."(...)
Intelligent Invoice Capture
Invoices take many forms – pdf, fax, email, Word, Excel, and even a piece of paper that looks like it went a few rounds with the postal service before landing on your doorstep. Currently, you have to dedicate at least one employee to ensuring those invoices are introduced into the process. That manual intervention not only costs time and money but can result in inaccuracies and typos that result in late and incorrect payments with your vendors, and ultimately, strained relationships. Not so with automated invoice capture. Intelligent capture technology, powered by Optical Character Recognition (OCR) and machine learning, improves invoice extraction accuracy over time to reduce human touchpoints and increase overall data quality. The solution captures, cleans, and transforms incoming data into something your ERP can actually understand. Rely on MHC’s AP automation solution to easily store, track, retrieve, and report on invoices at the touch of a button.
Once that invoice has been converted to zeroes and ones, what’s next? Now that you have the invoice entered into the system as clean, readable, and accessible data, this is where the fun begins. Route the invoice through the approval process while maintaining clear visibility into the status of the invoice. Configure your workflows so they meet your process’s needs, instead of having to modify your process to fit existing workflows.
Music. Books. Movies. Photos. It’s the 21st century and so many of the things we access on the daily are done so from the cloud. So why not your AP process? Access your entire workflow and documents from anywhere on the planet, at any time, with our AP automation software. Geography no longer dictates your access and abilities. Complete the entire payables process sitting at home. Or a local Starbucks. Or the International Space Station. Make sure that vendor is paid regardless of your location.
Reduce manual work and allow yourself to focus on more value-adds
Remove the paper from your workflow
Know exactly where your invoices are in the process, real time
Gain the flexibility of a no-code self-service model that gives you configurable, pre-built applications
Access your payables from anywhere on the planet, taking advantage of role-based permissions to manage processes
Integration Made Easy
According to Levvel Research, 37% of people use an ERP-based tool to process their payables. So it’s safe to say strong integration capabilities are an absolute must for most AP automation software. Even with multiple ERPs involved in the process, MHC seamlessly syncs invoicing and data. Using a direct connection between MHC and your ERP, users have the uncommon autonomy to build workflows that automate the extraction of data straight from the ERP. These no-code connections can be configured with little time and no reliance on IT support to ensure your ERP and AP automation system are in constant communication. And if additional assistance is needed, MHC’s outstanding customer support team can guide you through the process. Integration between your accounts payable automation solution and your ERP guarantees the security that comes with advanced transparency and interaction throughout the organization.
How Much Can AP Automation Software Do
for Your Company?
of people see a quicker approval of invoices when using automation software
of people see reduced errors when using automation software
of people see increased employee productivity
The Benefits of Using AP Automation Software
The advent of COVID-19 brought a lot of realities to light for many people. In the corporate sphere, we were forced to grapple with just how inefficient we had become in dealing with paper and manual processes. According to the Institute of Finance and Management (IOFM), 83% of accounts payable departments are now working from home, in a full- or part-time capacity. And shockingly, 31% of accounts payables teams are working fully remote.
AP automation had never been more necessary to an organization’s day-to-day operations than when millions of employees were sent home, tasked with maintaining a seamless workflow while not physically sitting in an office. In a matter of hours, AP automation went from a “nice to have” to an inarguable necessity.
Did you feel prepared in those moments?
You should know what your team is doing at all times. But with many AP software offerings, you have to expend a lot of energy and waste a lot of time to determine where a payment is in the process. MHC AP automation software allows you to see what step the invoice is at and when the vendor can expect payment.
Nurture Vendor Relationships
MHC’s accounts payable automation software allows you to give your vendor insight into your contract and payment status. Allowing both parties to feel fully in control, and enhancing that relationship throughout the years.
It’s the 21st century and we’re in a post-paper world. With many companies operating remotely and a focus on the environment, it only makes sense that we’d try to reduce the amount of paper used in our day-to-day lives. Eliminate the need for all those 8 ½ x 11s with MHC’s AP automation solution.
It’s a simple fact that the more hands on something, the more errors. Eliminate most errors by greatly reducing the amount of manual intervention required to get an invoice from capture to payment. The fewer cooks in the kitchen, the better the soup!
Understand your outstanding liabilities at a glance and control AP payment timing according to your schedule. Use MHC’s flexible payment processing workflow functionality to optimize your organization’s cash.
There is no easier way to alienate your vendors than to pay them late (or *gasp* not pay them at all). Ensure that you not only keep your relationships intact, but that you avoid mounting late fees caused by delayed invoice payments.
We want to grow with you. Unlike other AP automation solutions, MHC flexes with your company. Don’t be on the hook for functionality that simply doesn’t fit your needs. Pay for only what you need, only when you need it.
More Early Pay Discounts
Even better than fewer late fees, DISCOUNTS! Take advantage of any early pay discounts offered by your vendors by creating configurable workflows with MHC’s accounts payable automation software.
The quicker you can get something through a process, the more efficient your team can be, lightening their load for other tasks. Use MHC’s pre-built, configurable workflows and let the invoices flow freely through your system, from end to end.
Solve AP Challenges
with AP Automation Software Features
Excessive Manual Data Entry and Repetitive Tasks
So much of your day is taken up by seemingly small tasks that eat up your time. Nevermind the tasks that never change yet you constantly find yourself repeating them… time and time again.
Customizable Workflow Automation
Eliminate those moments of tedium by utilizing our workflow automation. Build a process with our accounts payable automation software that allows invoices to flow through the process, reducing stress and late payments.
Difficulty in Modifying Process When Needed
You know how it goes. You need a change to a vital piece of software and you wait as your IT ticket gets assigned to an IT professional. From there, who knows how long the process will take.
MHC’s AP automation software offers no-code, out-of-the-box functionality that will empower you with a self-service model. No longer waste valuable IT resources. Simply configure your workflow to meet your team’s needs.
Invoice Exceptions Causing Processing Delays
Things appear to be moving along until that trouble invoice comes along. Then everything grinds to a halt.
Invoice Exception Handling
Instead of watching as the clock ticks down and the invoice gets closer to being late, configure your exception workflows so corrections can be made quickly, and the process can move along.
Too Much Paper
It’s not 1960. So why are you still surrounded by a sea of filing cabinets, desperately rifling through to find what you need?
Paperless AP System
MHC’s AP automation software removes the paper from your AP process, allowing you to easily access everything in one location.
Lack of Visibility into the AP Process
You receive a call from another department or a vendor, asking when payment can be expected. But it’s so hard to understand where the invoice is in the process or where it’s stuck.
Efficient AP Dashboards
Remove the mystery from the invoice payment process. MHC’s user-friendly dashboards will give you an at-a-glance understanding of the invoices currently in process, allowing you to identify and clear up any bottlenecks.
Approvers/Stakeholders Holding up the Process
A due date for an invoice is looming, but the final approver is out of the office. What do you do?
Invoice Approval Routing
Use the approval routing functionality in our AP automation software to establish configurable approval routes and to identify back-up approvers.
Data Errors and Discrepancies Creating Issues
Even the simplest typo can wreak havoc on your ability to pay your vendors on time, hurting those relationships and possibly putting kinks in your supply chain.
Intelligent Data Capture
MHC’s automated intelligent data capture ensures that an invoice is entered into the system correctly, no longer having to worry about human error. Leverage AP automation to make your vendors aware of how much you value your relationship.
Current Solution Isn’t Easy to Use
It’s no secret that routinely, the resources and systems we’re given to do our jobs simply make them more difficult.
Avoid confusion with MHC’s user-friendly interface. With an intuitive layout and the ability to easily configure for your own needs, you’ll avoid spending much of your day trying to navigate the system.
Traditional AP vs. Automated AP Process
It’s not just the number of steps. It’s how involved each step is and how many points of error each step can potentially introduce. In traditional AP, there are so many moments in the process where something can go wrong- a typo can occur, an invoice can be missed, an approval can get lost. Some of these issues are simply a pain to fix. Some can be downright catastrophic to your business. When automating your AP process, you’re setting up a series of automated workflows that ensure there are fewer touchpoints. You get closer to straight-through processing, ensuring higher quality data and quicker processing times, with accounts payable automation software.
- Manually receive and upload all incoming invoices
- Route invoice for approval
- Review and approve invoice data
- Record approval and post update to the system
- Assign GL coding and key ACH batch
- Print checks or ACH batch
- Review checks or batches and authorize the release of payment
- Sign and scan checks
- Send payment
- Receive invoice
- Workflows triggered submitting invoice for data extraction
- OCR exceptions reviewed (as needed)
- Route invoice based on automated business rules
- Approver receives notification and approves/purchase order matches
- ACH file/check batch automatically created and submitted to bank or cloud printer
FIND OUT MORE
1. Receive invoice
The invoice arrives via paper document, PDF, fax, email, Word, Excel, etc and is scanned.
2. Workflows triggered submitting invoice for data extraction
Once the invoice has been scanned in, a workflow is triggered in the accounts payable automation software to extract the pertinent data. Regardless of format, all the data is read, cleaned, and captured. This ensures less manual intervention and fewer errors and discrepancies.
3. Intelligent Capture exceptions reviewed (as needed)
If there is data that isn’t entirely legible (think an unfortunate coffee cup stain covering up the invoice number), it results in an exception. An identified team member is then tasked with reviewing the data and manually keying in as needed. However, over time, the intelligent capture system, powered by OCR technology and machine learning, will begin to be able to identify more fields with greater accuracy.
4. Route invoice based on automated business rules
Design your workflow and process as fits your team’s needs. Identify who the invoice will be routed to, and even assign back-up approvers to ensure the invoice can flow smoothly.
5. Approver receives notification and approves/purchase order matches
The assigned approver will receive an email making them aware that there is an invoice to approve or a purchase order to match. Once completed, a simple click of a button will pass it along for payment.
6. ACH file/check batch automatically created and submitted to bank or cloud printer
Payments are processed as needed, making sure the vendor receives payment in their preferred method. Accounts payable automation software gives you unique abilities that the typical AP process simply does not offer.
MHC AUTOMATION VIDEO
AP Invoice Automation Solution Overview
Accounts Payable Automation Resources
Eliminate Accounts Payable Audit Risks With AP AutomationPreparing for your annual AP audit can be a stressful ordeal. If handled poorly, audits can lead to significant risks. Find out more about audits to be better prepared for your next one, with AP Automation.
Managing Change When Implementing an Automated AP SystemTransitioning to an automated accounts payable system will have a major impact on company culture and on the role of employees in the AP department. Discover the biggest challenges of this transition and how to solve them.
Top 4 KPIs Every Accounts Payable Team Should Measure
Not all key performance indicators (KPIs) are equal — just as not all accounts payable (AP) departments identify and measure the right ones. Discover the 4 most important KPIs for accounting departments.
AP Automation is the process of automating accounts payable processes—including receiving invoices, processing payments, noting discrepancies, and getting approvals from responsible parties.
In business, there are always challenges to combat and AP automation helps remedy some of those issues, which can include:
- Manual data entry
- Missing invoices
- Manual invoice routing
- Slow approval times
- Low visibility
- High processing errors
One of the most substantial drawbacks in accounts payable is the time it takes to review, process, and approve invoices for payment, which is exacerbated by the fact that invoices are often decentralized and accounting departments are frequently coping with a high number of discrepancies and exceptions. So what is AP automation? A trusted solution to the troubles of manual accounts payable operations.
In an environment where making payments correctly and timely is of the utmost importance, three-way match is a vital process within accounts payable. Using a process of cross-referencing the purchase order, the receipt of goods/services, and the vendor’s invoice, you verify the purchase process from request to payment. Make sure you never pay an invoice in error – whether it be under/overpaying or duplicating payments.
Optical character recognition (OCR) is a method to scan, digitize, transform, and store handwritten or printed text documents into your accounts payable system. Eliminate manual intervention, as employees no longer have to physically type in invoice information. Ensure that the data is accurate, and time is saved utilizing technology that learns with repeated data exposure to improve its ability to read, clean, and translate incoming data, capturing data like product numbers, prices, and payment dates.
Simply put, digitizing all data within your accounts payable system encourages greater accuracy in the recordkeeping and transcription process. Without manual intervention, it is less likely that data is entered incorrectly from the very start of the process. Streamlining your workflows and incorporating more comprehensive documentation of your data makes for fewer audit risks and potential complications.
In any company, a change in process will introduce some natural complications, and pushback from employees can bog down the move towards advancement. However, our proven customer service and support team is well known for our ability to guide users through the process, clearing up any confusion and providing them with the tools and knowledge needed to make accounts payable automation a success. Best practices developed over time will reduce stress on your overall process as you take a step into the future of accounts payable.
Currently, in a traditional AP workflow, invoices are generally emailed to each approver through a complicated process that can easily experience bottlenecks. Whether it be approvers who are out of the office or whose inboxes are simply overflowing, from end-to-end in the invoice approval process, there are several steps that can cause disruptions and delays. However, with automated invoice approval, the process begins with paper and digital invoices being intelligently captured. From there, you have the freedom to craft and manage your own workflows, identifying alternate approvers and triggering separate workflows if discrepancies are suspected. Removing the physical capture and routing of invoices through your organization saves time, money, and manpower.
Automating your accounts payable process using AP automation software avoids duplicate payments. Auditing features search for erroneous payments made, including duplications. By cross-referencing internal information and making sure they’re completed after the payment has been made, duplicate payments made in error are all but eliminated.
It’s hard to avoid, manual processes simply open you up to fraud. When manual intervention is required, it’s easy for malicious parties to be able to game the system. AP automation removes those human elements, ensuring that fraud is all but impossible. AP automation software allows for audits wthat will identify any signs of duplicated, incorrect, or invalid payments that could be seen as fraud.
Integration with other accounting systems widely used with your company are vital to enhancing the efficiency of accounts payable automation software. Ensuring that all information flows from a central location helps reduce errors, minimize delays, and maximize your work hours. With a couple of decades of experience, MHC has simplified and perfected the integration process with major ERPs such as Infor, Oracle, etc.
In the end, your vendors and suppliers simply want to be paid on time (or early, if at all possible). Each time a payment is made late, you lose the trust of your vendors… vendors you rely on to be able to run your business. Automated workflows within accounts payable automation software greatly improve the invoice-to-pay timeline, making sure that invoices aren’t stuck with an approver who happens to be out of the office or waiting on an exception.
It’s a cliché, but it’s a cliché for a reason. Time is money. By automating your AP process, you’re not only saving on precious manpower (freeing your employees up for more value-added tasks), but you avoid late payment fees and can potentially take advantage of offered early payment discounts.