Invoice Processing
Iron Mountain's Invoice Processing solution is designed to help Accounts Payable (AP) teams shift from time-consuming, manual tasks to more strategic financial initiatives. It addresses common challenges like manual data entry, human errors, and limited data visibility, which can lead to payment inaccuracies and delayed payments.
Here is what the solution helps you do:
- Enhance accuracy and financial control: The solution uses AI-driven intelligent document processing (IDP) to automatically extract invoice information, which nearly eliminates manual data entry errors. It also leverages automated three-way matching to validate invoices against purchasing and receiving data to ensure only valid orders are paid.
- Make processing more transparent: The solution provides a single, centralised portal for managing both digital and physical documents, giving you complete oversight and control over the entire invoice lifecycle. This centralised hub gives authorised users role-based access, which streamlines invoice retrieval and provides a clear audit trail.
- Boost efficiency and reduce costs: The solution automates key AP functions like data entry, approvals, and reconciliation, which frees up your team from tedious administrative tasks. Automated workflows and business rules flag and route exceptions to the right people, allowing staff to focus on tasks that require human intervention. This can help reduce costs by 78% and enable faster processing, which in turn can help you capture early-payment discounts and boost cash flow.
By automating and centralising your invoice processes, the Iron Mountain solution helps you transform disconnected documents into a valuable source of data, allowing you to optimise cash flow, improve supplier relationships, and make informed financial decisions.
Explore Iron Mountain Invoice Processing
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