AP Processing

AP Processing

Our customers are recognizing that AP automation technology can solve common challenges in the invoice management process, such as too much paper and inefficient manual data entry processes.  Together, KeyNet and our customers have developed a suite of tools and processes to help streamline the process of vendor invoice processing.

AP invoices present a unique set of document management challenges. Since they originate outside the processing organization, there is no control over the format and quality, positioning of data on the printed page, consistency of data format, or condition of the equipment creating the document (printers, fax machines, etc.). In short, there is no standardization, therefore the extraction of information from these forms for indexing and data processing purposes can be painstaking, typically consuming a significant portion of AP data entry time and effort.

Indexing Methods

KeyNet offers four basic approaches to processing AP records. Each of these methods is uniquely suited to a particular customer needs and workflow.

  • Manual VIRE and Stand-Alone Indexing (Post-VIRE)
  • Manual VIRE with Bar-coded Cover Page. (During-VIRE)
  • Co-Star INVOICES Processing (Pre-VIRE)
  • Co-Star INVOICES High Volume AP Processing (Pre-VIRE)

Vendor Invoice Record Entry (VIRE) process creates AP records linking Vendor Invoices data items to purchase order records. In the list above, the notations: ‘Post-‘, ‘During-‘, or ‘Pre-‘ indicates whether the document scanning and indexing occurs after, before, or during the VIRE process.

KeyNet’s AP Processing is a scalable application which uses existing Co-Star software and advanced invoice processing from ReadSoft, the World leader in AP INVOICES capture.   Contact KeyNet for a consultation of the workflows and features that are right for your organization.

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