Manufacturing

AP automation and RPA can help manufacturing companies streamline their financial processes, reduce costs, and improve accuracy, helping them to focus on their core business activities.

Manufacturing companies need AP (Accounts Payable) automation and RPA
(Robotic Process Automation) for a number of reasons:

Data entry errors

Manual data entry is prone to mistakes, leading to incorrect information being recorded on invoices.

Lack of visibility

Invoices can be lost, misfiled, or duplicated, making it difficult to track the status of payments and approvals.

Slow processing times

Manual invoice processing can be time-consuming, leading to payment delays and potentially impacting vendor relationships.

Inadequate approvals

A lack of proper approval processes can result in incorrect payments being made or fraudulent activities going undetected.

Inefficient manual processes

Manual processes are often repetitive and prone to errors, leading to increased costs and decreased efficiency.

Integration issues

if invoicing systems are not integrated with other financial systems, it can lead to data silos and a lack of information flow between departments. Is this happening to you in your

3-Way Match

Automated 3-Way PO Matching with the ability to build in tolerances and business parameters

ERP Integration

Flexible integration, with ability to create seamless data-sharing

AP (Accounts Payable) data entry errors can lead to several issues, including:

Incorrect Payment Amounts: incorrect data entry can result in incorrect payment amounts being recorded, leading to overpayments or underpayments.
Duplicate Payments: errors in data entry can result in duplicate payments being made, leading to increased costs and the need for manual reconciliation.
Delayed Payments: incorrect information on invoices can result in delayed payments, potentially impacting vendor relationships and supplier trust.
Inconsistent Data: inconsistent data entry can result in poor data quality, making it difficult to produce accurate financial reports and track spending
Increased Manual Intervention: errors in data entry can require manual intervention to correct, leading to increased costs and decreased efficiency.
Compliance Risks: incorrect information on invoices can result in non-compliance with accounting and tax regulations, potentially leading to penalties and reputational damage.

Benefits of the Centreviews AP Automation Solution for Manufacturing

Cloud Infrastructure

Work Anywhere: Process and approve invoices with Centreviews solution at any time, from anywhere, and on any device.

Easy Capture: Invoices and bills are automatically captured into the platform and immediately available for processing.

Around Clock Automated Coding: Billy the Bot, our AI helper equipped with advanced technologies accurately extracts data from invoices in real-time to reduce manual data entry and errors.

Communicate & Approve: Edits, attachments and questions asked and answered on top of the invoice enable approvers to review and approve faster and be held accountable for bottlenecks.

Functionality and Service

Invoice Tracking: No more lost or forgotten invoices with advanced tracking, automatic notification reminders and ability to mark urgent invoices.

Audit-Ready: Either in-house or external, auditors can be granted limited access to search any invoice and its accompanying information.

Seamless Integration: Securely connect our Centreviews bots with your accounting system to sync invoice data, POs, payment information and more.

Fast Implementation: With no lengthy implementation or extensive training required, you’ll be up and running in days, not months.