by martieLast Updated : Sep-12-2023
Using Sage Intacct and struggling with accounts payable processes and automation?
Many companies and business users that use Sage Intacct Accounts find it difficult to scale the AP operations without adding additional headcounts and figure out the best solution with capabilities.
They are challenged with manual data entry and limited invoice-matching capabilities that hinder the speedy processing of supplier invoices.
Delay in supplier invoice processing leads to:
If you are using Sage Intacct and facing any of these challenges, this article will provide a step-by-step process for overcoming these challenges by leveraging advanced technologies. Aside from that, you will understand how to efficiently create your financial and purchasing reports and streamline your AP Bill Automation.
Let’s get started.
Sage Intacct AP automation refers to AP automation capabilities present in Sage Intacct.
At a very high level, Sage Intacct’s AP automation capabilities include the following:
Sage Intacct AP Automation is an advanced solution designed to streamline and optimize Sage Intacct Accounts Payable Processes for finance teams while considering approvals processes.
By eliminating manual entry and automating invoice processing, this powerful tool enables businesses to accelerate their payment cycles and make more informed decisions.
One of the enhanced functionality of Sage Intacct Accounts Payable is its configurable processes. It allows finance teams to customize their payable workflows to match their specific business rules and approval workflows.
This flexibility ensures the solution seamlessly integrates with existing accounting and payment processes.
With real-time access and visibility into invoice transactions, finance teams gain complete control over their payables. They can easily track and manage supplier invoices, reducing the likelihood of duplicate payments and errors.
Moreover, the searchable archive of invoice history enables quick and easy retrieval of past transactions for a complete audit trail.
Sage Intacct Accounts Payable Automation also offers seamless integration with other systems, allowing for direct integration with suppliers, seamless data transfer, and automated invoice approvals.
This eliminates the need for time-consuming and error-prone paper check processes, resulting in faster invoice processing and greater efficiency.
In addition, Sage Intacct Accounts Payable offers the flexibility to enhance workflows through third-party add-ons and marketplace partners. These solutions can further optimize AP processes, improving internal control processes, reducing manual entry, and increasing productivity.
Overall, Sage Intacct Accounts Payable Automation is a comprehensive and user-friendly solution that empowers finance teams to streamline payable processes, eliminate manual tasks, and make more informed decisions. With its advanced features and seamless integrations, businesses can save thousands of hours and optimize their accounting processes for maximum efficiency.
Sage Intacct provides a central repository for the AP team to upload an Intacct Bill from vendors and to prevent inefficient workflows. However, there is no automation to reduce the burden on the AP team for manual invoice entry.
Sage Intacct currently lacks the following in its service solution:
A key challenge for AP teams is to get the invoices approved before a vendor can be paid. Now imagine doing this for 100’s of invoices every month. This can be mitigated if you have invoice-matching capabilities and leverage advanced technologies.
Invoice matching capabilities offer the following benefits:
A supplies portal reduces the burden on the AP team when entering invoices and answering vendor payment queries.
Sage Intacct doesn’t have a supplier portal, so there is no way to enable vendor self-service.
There are two ways you can enable self-service:
Look at how an AP automation system can help supercharge your Sage AP process. In this example, we use ProcureDesk, but you can use any certified system to work with Sage Intacct Accounts.
The first step is to simplify the process of capturing vendor invoices. If the vendors send invoices to different stakeholders, the first step is centralizing that.
This is how to do that:
After that process is complete, all you need to do is set up an auto-forward so that all invoices received on this email are automatically forwarded to your AP automation software.
For example – for ProcureDesk, we provide a simple process to set this up. Once these steps are implemented, there is no need to upload every invoice manually. The system takes care of that for you.
Once the AP automation software receives the invoice, you must still enter the data into the accounting system.
With an OCR process, you don’t need to create every invoice manually.
The system imports the invoice and then automatically extracts the invoice data from the attachment.
For example – pulling the supplier invoice data, invoice number, payment terms, and amount from the invoice header. In addition to the basic supplier invoice data, the ProcureDesk system extracts the line descriptions from the invoice and then matches them with the appropriate POs to payments.
This reduces the time it takes to process an invoice. Most of our customers see a decrease of at least 40% in their invoice creation cycle time
Here is an example of how the system creates invoices using OCR’s advanced technologies:
Imagine if you don’t need to deal with creating invoices at all. What if the suppliers can upload their invoices
Yes, that is possible with the outstanding service from a supplier portal.
Suppliers can upload their invoices against the specific purchase order with a supplier portal. This helps at three levels:
Not every supplier would be willing to upload their invoices into the system. We typically see a take rate of 30-40% of vendors adopting this process. If 30-40% of vendors contribute to 50% of the invoice volume, then that is an effort your AP team can save.
Here is an example of how a supplier can create an invoice in the supplier portal by leveraging advanced technologies:
Want to take your invoicing to the next level and leverage advanced technologies? Imagine if the invoices are submitted, matched with POs to payments, and sent to Sage Intacct Accounts for payment.
Yes, this is possible using touchless invoicing.
Electronic invoices or touchless invoices refer to the ability of an Accounts Payable software to receive invoices electronically using standard protocols like EDI3 and cXML.
Here is how it works with electronic invoices:
Here is an example of receiving EPayments in ProcureDesk.
Spending too much time manually matching each invoice line with receipts and purchase orders?
We get it; that is where an AP automation software can help.
Here is how the matching process is automated.
One of the main issues with invoice matching is that you have to reach out to people to ask for missing receipts manually.
AP teams spend countless hours chasing stakeholders for receipts.
With ProcureDesk, this process is fully automated. The system sends notifications to order contacts if there is a missing receipt.
The users can easily confirm the receipt from an email or using the mobile app. The system allows a receiver to photograph the packaging slip and create the receipt.
Here is an example of the email sent to the order contact.
Not every 3 or 2-way match is perfect, and you might need additional information from the requester before processing the invoice.
Here are a few issues that can come up with invoice matching:
These are some common scenarios you see with the invoice matching process.
You need to route the invoice for further review to solve these issues. Instead of deciding this when uploading the invoice, you can set up workflow rules to route these exceptions for approval rules.
You can set up an approval workflow process to route invoices for approvals. Here are some scenarios to consider
The ability of the system to work on approval for invoices is just an example of how workflow systems can be automated.
Here is an example of how the workflow is configured in the system:
There is no use in implementing an AP automation tool that doesn’t integrate with Sage Intacct because then you have to upload invoices in Sage manually.
Here are some of the things that the AP automation software like ProcureDesk automates for you:
In today’s competitive and fast-paced business environment, efficiency is key. Every second saved, and every penny wisely spent can make a significant difference. And this is precisely why so many businesses are now turning to automation systems to streamline their processes.
When it comes to accounts payable (AP) specifically, integrating an automation system with Sage Intacct offers a myriad of benefits. It offers numerous benefits that simplify and enhance financial operations for businesses.
With its seamless conversion of transaction types, customizable workflows, and user permissions, this automation solution optimizes the accounts payable processes.
The customizable workflows allow businesses to configure their payable processes according to their specific needs, eliminating manual data entry.
By automating repetitive payment tasks and streamlining approval workflows, Sage Intacct AP Automation reduces the time spent on manual processes and increases efficiency. Aside from that, your team becomes more aware of the status of tasks within your pipeline.
One of the significant advantages of this solution is the real-time visibility it provides into payable processes.
Finance and accounting teams can access up-to-date information on supplier invoices, approval workflows, and payment processes, allowing for informed decisions and greater control over cash flow.
Sage Intacct AP Automation eliminates the slow and error-prone paper processes by enabling electronic invoices and providing a searchable archive of invoice transactions.
The solution also improves internal control processes by implementing business rules and preventing duplicate payments.
With seamless integration capabilities, this automation solution can integrate with other systems like Point of Sale (POS) and payments, providing a comprehensive view of financial operations.
It offers flexible approval workflows, unlimited users, and additional API integrations, making it valuable for businesses of all sizes.
By implementing Sage Intacct AP Automation solution, businesses can save thousands of hours previously spent on manual accounts payable tasks such as repetitive payment tasks and allocate more time for value-added activities. The solution enhances operational efficiency and improves decision-making through real-time visibility and configurable processes.
We discussed the challenges of Sage Intacct AP automation and how an AP automation system like ProcureDesk can help overcome these challenges. We covered the following topics:
If you use Sage Intacct and want to improve your Payable Automation Solution and gain a better insight on your audit trail, consider implementing an AP automation system like ProcureDesk for a better solution with capabilities. Our tool has a couple of customer testimonials to give you insights into our system is capabilities.
An AP system improves productivity and ensures your Accounts Payable process complies with all applicable regulations. For example, an AP automation system can help you track and manage your vendor relationships, which can help you avoid vendor fraud.
Automating an AP (Accounts Payable Automation) process involves the integration of digital tools and software solutions to streamline and optimize the traditional, often manual, functions of Invoice Automation and processing, approval process, and payment. The primary steps include
Accounts Payable (AP) in Sage refers to the functionality within the Sage accounting software that manages your business rules and outgoing payments to your suppliers and vendors.
It encompasses a series of processes and features designed to streamline and automate the handling of AP bill automation, supplier invoices, and payments. Aside from that, it even eliminates slow and error-prone paper processes and even fits the technology requirements your business needs.
With Sage’s AP feature, businesses can efficiently manage their financial obligations by tracking due dates, leveraging early payment discounts, and avoiding late fees.
Sage’s AP module integrates seamlessly with other accounting components, providing a comprehensive view of an organization’s financial health.
In essence, AP in Sage brings seamless connection, sophisticated PO Matching, and intelligent 3-Way PO Matching and optimizes the management of supplier-related financial transactions, ensuring businesses maintain good vendor relationships and fiscal responsibility.
What you should do now
Whenever you’re ready… here are 4 ways we can help you scale your purchasing and Accounts payable process.