Leading edge cloud workflow software, supplier portal and e-invoicing network
We understand the challenges and pain points associated with paper based, manual AP processes - they are time consuming, difficult to manage and can have a signification impact on your bottom line.
Iron Mountain's e-Invoice AP workflow automation service provides a comprehensive, end-to-end solution that can address your immediate problem of paper-based invoices while also providing a clear roadmap to true electronic invoicing.
Iron Mountain e-Invoice works the following way:
- All paper invoices arrive at a centralized PO Box and are received at a secure Iron Mountain facility. With your vendors no longer sending these documents to your facility - you are effectively paperless from Day 1. Our solution also provides for direct integration with your high volume suppliers as well as a web portal for other vendors to enable e-invoicing and completely eliminating paper invoices.
- Upon receipt, our trained staff perform the mail opening, sorting, exception handling to feed our Document Conversion Services. Our scan and capture process converts these paper invoices into electronic images and also extracts the metadata from these documents which then feeds our cloud based workflow automation software.
- For PO invoices, we apply 2-way and 3-way matching rules to automatically process these invoices and only raise exceptions to the attention of your AP staff or receivers. For non PO invoices, we apply configurable rules based on your business needs to route invoices to the appropriate users for coding, review and approval. The system enforces delegation of authority and approval limits with full visibility for tracking and audit purposes.
- After matching and/or approval, the invoice coding is transferred automatically to your ERP system to ensure timely payment without any data entry required. The invoice images are available within our workflow repository for a duration of time based on your audit/retention needs. The physical document can then be destroyed through our Secure Shredding services or retained for long term storage as needed.
By implementing Iron Mountain's e-Invoice solution, you will become more productive, reduce the amount of paperwork you have to process, and gain increased visibility and control over the flow of invoices across the organization.