AP Spend Management Solutions
Before an invoice is received at your company, you need to have a pulse on what your business can spend. MHC’s automation solutions helps you with spend management in AP.
Spend Management is Where We Start
AP automation is a powerful system of workflows, document capture, approvals, and other features that make the lifecycle of an invoice as efficient as possible. It follows each invoice all the way through your business, from start to finish, and removes delays, errors, and obstacles along the way.
Spend management, while also a crucial aspect to your accounting department, is what happens before the invoice arrives to your company. Consider that you wouldn’t be getting an invoice without having approved the purchase in the first place. Procurement, supply chain, finance – all of these departments have oversight and control over how much can be spent, which drives if and when you receive an invoice and for how much.
If AP automation is a vehicle that powers an invoice along its path in your business, spend management is the gas tank.
How Accounts Payable Automation
Benefits Spend Management
Having visibility on every single invoice, even before they arrive to your business, is key to managing the spend for each one. MHC’s highly automated data file collection and tracking helps you forecast when spend will occur and for how much so that you can manage expenses and plan budgets accordingly.
More invoices have errors than we realize, yet finding them and then disputing the error with vendors and suppliers is a cumbersome process. Using MHC’s integrated dispute functionality, errors are automatically detected and trigger a dispute process you design and control.
Activate Stronger Financial Controls
Audit Invoice Approvals Securely
Be sure about the data you’re using to make informed decisions about your company’s spend with MHC’s auditing solution. You can configure automated checks and validations and receive comprehensive reporting on any errors to give you an accurate picture of where money is going and budgeted.
Cloud-based AP Automation with
MHC has a proven track record of providing AP solutions that will automate, refine, and expedite your process from invoice to pay. With our next-gen solution, MHC NorthStar, you can now utilize that same efficacy and efficiency regardless of where your AP team happens to sit. Process invoices from end-to-end, at scale, in a way that not only reduces late payments but increases potential early pay discounts. Set your sights for MHC NorthStar and navigate your AP team to process nirvana.
CONFIGURABLE WORKFLOWS: Spend less time waiting for an IT ticket to be completed. Take control by easily customizing your processes with drag & drop functionality.
CONTENT IS KING: Take control of what you put out into the world. Craft and generate high-impact documents with easy-to-use templates and edit capabilities.
FLEX WITH YOUR BUSINESS: No longer be hit with additional fees as your staff requirements increase. MHC NorthStar offers platform access to unlimited users at no additional fee.
ENHANCED SUPPORT: MHC is proud to offer assistance from our expert team of customer service agents. Our ability to provide exceptional customer support will give you peace-of-mind.
How Automation Tools Help You Manage Spending
At last, you have an arsenal of tools that can help you manage spending accurately, automatically, and effectively. Overseeing your business spending is a role that carries the weight of all leadership, stakeholders, and employees as you help ensure the company remains viable and profitable. With great power comes great responsibility, and MHC automation tools can lend you the power you need to live up to the responsibility you’ve taken on.
An invoice’s lifecycle throughout your business has many twists and turns, from initial capture to final approval and payment. MHC’s invoice automation can help you anticipate invoices before they even arrive to your business, calculate how the spend on the invoice impacts your overall finances, and gives you the control to make the best decisions for your bottom line.
Accounts Payable Automation
Automation is a solution that can become the hub for how you see and analyze your company’s spending. MHC’s Accounts Payable Automation solution can be integrated into your existing systems – all of them – to provide you with a single interface that lets you track every payment from start to finish.
Procure to Pay Automation
Supply chain is a huge part of your company’s spending, dealing with vendors, suppliers, inventory, and cost. Use MHC’s P2P Automation tools to centralize the entire procurement process, which will not only help you manage spending on supplies and services but will also support the procurement teams as they make their best decisions for the business.
Tax & Compliance Document Digital Delivery
Documentation is the name of the game for business spending, and as you focus your efforts and managing where the company’s money is going you also must factor in that your vendors, suppliers, and employees need their own documentation. Provide 24/7 access of tax and compliance documents through MHC’s Digital Delivery capabilities, which takes care of the required documentation while you focus on spending decisions.
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.