Accounts Payable (AP) departments in today’s global organizations operate under increasingly strict and fluctuating requirements. From satisfying external customer demands, to meeting increasingly stringent financial controls and internal margins, much depends on the success and efficiency of the AP team. The effective management of invoices significantly impacts vendor relations and corporate profitability, and the proper management of invoices can be the difference between money saved and money lost.

Invoices, purchase orders, bills, credit notes are all documents that all industries receive and send on a regular basis. The market for invoice processing is significant; 70% of incoming mail is bills and 96% of invoice processing involves keying data from paper. There is a solution:
Ascent for Invoices – the most effective way of capturing data from invoices and getting it into
your financial management system.

Ascent for Invoices is a complete solution for the capture of supplier invoices, including
scanning, automatic data extraction and release. By dramatically reducing the burden
of manual keying and allowing staff to focus on profit-optimizing functions, Ascent for
Invoices delivers huge productivity gains and a rapid return on investment.

Ascent for Invoices is based on Kofax document capture technology, ensuring
unparalleled performance and scalability. State of the art data capture technology is used
to extract data to high degree of accuracy regardless of invoice layout - users can even
improve extraction performance themselves over time through a simple to use learn-by-example interface.

Kofax products set the standard in professional document and data capture and are used by
more than 10,000 organizations worldwide to enhance their business.

Automatic Extraction Dramatically Reduces the Burden of Keying Focuses Staff on Profit-Optimizing Functions:
• Take advantage of early payment discounts, usually between 2% - 5%
• Avoid late payment penalties
• Identify billing errors
• Improve analysis of accounts payable metrics

Secure Digital Storage Ensures Instant Retreivability, Top Productivity
• Store invoices securely in digital format upon receipt
• Allow appropriate staff access to invoice images and data immediately
• Invoices do not get lost, misplaced or linger in an individual’s mailbox
• Retrieve archived invoices in seconds in the case of an audit or a legal dispute

Integration with Back-End ERP and Accouting Systems for Maximum Benefit
• Compare invoice table line items to purchase ledger and/or warehouse information; invoices containing discrepancies receive special processing
• Route high-priority invoices for management approval
• Auto-schedule payment of invoices using rules that maximize the cash cycle by taking advantage of discounts and supplier payment terms