The Shortcomings Of Manual Accounts Payable
Slow Invoice Approvals
Without a solution to automate the capture, matching & approval of invoices, accounts payable wastes time, errors creep in & fraudulent activity goes unrecognized.
Errors Impact The Organization
The general/nominal ledger coding process has always reflected the knowledge & experience of accounts payable staff with humans relied on for accuracy & fraud detection.
Supply Chain Disruption
Late payments haunt complex supply chains & impact supplier relationships, causing harm to business operations. You need to know who is owed what & when.
Inaccurate Cash Requirements Planning
Ad hoc or maverick spending can lead to unexpected cash draws. Often this can be absorbed but may be felt throughout the business, impacting operations.
Fast Invoice Approval
No old-fashioned time-consuming stamping, filing, photocopying, mailing, or chasing.
With Compleat, invoices are captured, approved & transferred to be paid with little, or minimal, human intervention. Within both accounts payable and across the organization, time is freed up to perform more valuable tasks.
By unifying finance (accounts payable) with spending budget holders & sourcing procurement teams, the humble invoice becomes a driver for digital change within organizations.
Fraud Prevention
From double payments & missed due dates to illegitimate invoices & undelivered goods & services, errors seem to lie in wait for accounts payable teams, hindering invoice approvals.
Compleat automatically checks & compares the data from invoices received against sources in your accounting system & online, validating the integrity of the payments.
Realize Savings Through Organized Data
Not only does a well-run invoice automation process unify the organization, but it also means that invoice data is managed & stored correctly, allowing it to be utilized in ways beyond the mere transaction cycle.
Compleat enables you to capture the header & line data of any invoice that has been through the Capture service. The data is stored by category & commodity level & can be analyzed by your procurement experts – & our own – to identify achievable savings.
Better Supplier Relations
Late payments, missed deadlines & calls to avoid invoices can all deter suppliers & inhibit flexibility.
Compleat streamlines your supply chain invoicing through smooth transaction flows, online buying, dashboards & accessible, usable data.
Empower your staff with Compleat & enable them to have more enjoyable & productive conversations with current & potential suppliers.
FAQs
One of the great aspects of the Compleat service is that suppliers do not need to comply with any arbitrary invoice layout or document type that we prescribe. All they need to do is email the invoices they currently send you to a new email address. We take care of the rest. A simple notification informing them of the change of email address is all it takes.
We enjoy hearing the stories of improved supplier relationships as they start to experience the benefits of the improvements in the end-to-end invoice approval process.
Compleat provides the combined Capture & Invoice Automation service for a subscription fee that is much lower than the cost, in labor terms, of manually performing the equivalent tasks.
However, we recognize that for small & some mid-sized organizations, labor savings are not possible. Instead, we point to the opportunity to get more value from the staff’s current time & also enhance the entire buying process through intelligence farmed from the invoices processed by our service.
Many larger organizations can recognize savings in the workforce (both within finance and elsewhere), but, typically, Compleat encourages savings potential through the invoice automation service – which can surpass potential labor savings alone.
Without the invoice data flowing through our systems, the intelligence buried within invoices is not accessible to query. Therefore, we believe passionately that every organization – large or small – can benefit from the range of possibilities digital transformation of supplier invoice processing provides.
Compleat’s flexible workflow routing configurations are defined by each company & can be maintained by nominated administrators. We provide online & guided training for our suites of invoice automation software to enable users to manage these settings.
Our software is designed to be easy-to-use &, as far as possible, self-service so that user administrators can take control & react to changes. Our enablement content & services assure each organization can have a tailored experience that matches their business needs.
Invoice Automation – Delivering More Than Just Efficiency
Damaged relationships with colleagues, frustrated suppliers, lost opportunities to show the true picture of spending, getting invoice processing wrong can be detrimental to a business.
Our solutions make it easy & straightforward. Compleat ensures invoices are accurately coded through automated invoice processing tools, matched to orders & routed for prompt approval and payment.
With automated invoice processing & real-time analytics for current and historical spending, you have complete visibility of costs, improved supplier relationships & more time to focus on growing your organization.
Finance Teams
Automate accounting transactions to modernize your processes, service colleagues better, work with confidence and achieve more with less effort.
Budget Holders
Access analytics, process approvals & manage delegated budgets from a single platform. Reducing administrative touchpoints & enabling data-driven decisions.
Procurement
Empower procurement teams with accurate spend data, enabling sourcing conversations that support the whole organization & sustain savings into the future.
Directors
Drive collaboration & teamwork by leveraging shared analytics & resources, encouraging teams to work efficiently & focus on common organizational goals.
Book A Demo
Seeing is believing. Compleat is so simple to use & intuitive that everyone across every business enjoys the benefits from day one. Check it out and see for yourself.
Compleatable
Grab a coffee, a pastry (I like pain au chocolat myself but up to you), & take in some insightful content written by the Compleat staff from various departments.