Accounts Payable Document Automation Solutions
PSIcapture: an Accounts Payable software solution that works.
Nearly every business deals with Accounts Payable and Accounts Receivable documents. Oftentimes, the processes in the AP department are heavily paper-intensive and time-consuming. In fact, for most businesses with manual processes, it takes roughly 16 days just to process one invoice. This ends up costing the organization in the form of labor, late fees, and printing and paper costs. An automated Accounts Payable solution can help an organization reduce those costs, keep more of their hard-earned profits and keep employees happy and productive.
A Solution for Any Company.
PSIGEN's solutions were built for flexibility and scalability. We understand there's no one-size-fits-all AP solution for all organizations, so our products are designed to meet the needs of companies of all sizes and structures. PSIcapture can integrate with your organization's scanners, MFPs, fax servers and network folders, as well as your document repository. PSIGEN's products can be scaled to suit growing companies, as well as those that need to downsize. It's fully customizable and flexible, making it the most sensible document capture option for Accounts Payable departments at any company.
Why Choose PSIGEN's Accounts Payable solution?
- Increase the overall productivity of Accounts Payable staff by eliminating or greatly reducing manual data entry
- Reduce the amount of time staff spends processing invoices
- Eliminate or greatly reduce the issue of lost invoices
- Trade in late payment penalties for early payment discounts
- Reduce the cost of processing an invoice and save significant money in the long-run
- Improve the audit process
Automate Invoice Processing
Manual invoice processing is time-consuming and expensive. PSIGEN's automated AP processing tools help companies experience cost-savings and improved productivity by taking the tedious manual tasks out of the equation. Classification with the Accelerated Classification Engine (ACE) allows for automatic classification of documents, eliminating the need to sort documents prior to scanning. Advanced Data Extraction (ADE) automates the extraction of data needed for creating searchable documents, and Table Extraction automatically extracts line-item data from documents. With an automated AP workflow from PSIGEN, your AP department can experience a significant increase in productivity and eliminate unnecessary steps from the workflow process, ultimately making a positive impact on your company's bottom line.Read AP and AR Case Studies
Reduce the time spent processing an invoice and cut costs.
Quick stats about manual AP processing
Average cost to manually process an invoice:
Average cost to process an invoice with an automated process:
Average time it takes to manually process an invoice:
Average time it takes to process an invoice with AP automation:
Example: The average cost to process an invoice manually is $22.75. If you manually process 1,000 invoices per month, or 12,000 per year, assuming your processing is the same as the average, invoice processing costs our business $273,000 annually. If you switch to automated invoice processing, the average cost to process the invoice is about $3.40, so the cost of processing the same amount of invoices for one year is $40,800. That’s an annual savings of $232,200.b
Trade in late payment penalties for early payment discounts.
Quick stats about Early Pay savings
Using Manual Processes
Using Automated Processes
Example: If your company processes $10 Million worth of invoices and gets 2% net 10 from 80% of your vendors, and you are able to take advantage of the discount on all of them, you’d save $160,000 on your invoices.a