Octacom’s AP automation solution leverages advanced invoice capture and intelligent workflow automation to transform invoice management from receipt through approval. Whether your organization operates from a single centralized office or across hundreds of locations, our platform delivers a faster, more accurate, and fully scalable accounts payable process.
Learn how Ontario Power Generation manages 110,000 vendor invoices annually with accounts payable automation.
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Increase Scalability and Reduce Costs of Invoice Processing
Incoming invoices, exceptions and vendor registrations create a bottleneck in the accounts payable department as teams struggle to keep track of manual processes. A manual process requires that staffing levels grow with invoice volume growth. Accounts payable automation streamlines these processes through automation and software, allowing our clients to grow with ease while saving valuable time and money. In fact, our clients save over 50% of their AP costs when switching to Octacom.
Improve Visibility and Accountability Through Automation Software
A manual AP process is slow and is not transparent. Invoices can get lost in inboxes, in spreadsheets or on people’s desks, and tracking the approval workflow can be challenging. Octacom’s Odiss Software provides complex approval workflows based on your delegation of authority with all financial controls in place to provide visibility into invoice cycle times and direct accountability to approvers within the organization. Notifications, alerts and auto-escalations ensure invoices are actioned to keep the company moving forward.
Reduce Turnaround Times and Capture Early Payment Discounts
Invoice capture, GL coding and approvals take up valuable time. Automation, leveraging AI technology, drastically reduces the turnaround times on invoice processing and approval, allowing our clients to take full advantage of payment discounts and avoid late fees. Receive complete, accurate data in a fraction of the time with Octacom's scalable approach.
How Accounts Payable Automation Works
Vendors send invoice documentation via email, EDI, vendor portal or PO Box. Invoices are then processed through data capture, PO matching and validation.
Odiss Software controls your approval workflow, exception management and vendor maintenance.
Your ERP or Procure-to-Pay solution shares master data, including vendor and PO data, general ledger accounts and payments, while Odiss pushes approved and coded invoices automatically.
Leverage Odiss for Seamless Invoice Management
Approval Queue
View all invoices requiring approval in one central location. Leverage user permissions to limit access to records. Receive email notifications when action is required.
Exceptions Portal
The exceptions tab allows users to identify invoices that failed validation and edit properties to resolve any discrepancies quickly and easily.
Archived Invoices
Store invoices that have been approved and voided in a central database for easy retrieval and analysis.
User Management
Create users and manage their security level and permissions within Odiss, or leverage SSO to integrate with existing systems.
Audit Trails
Review actions taken by users within the Odiss portal for increased security.
Vendor Management
Lock vendors to place those invoices "on hold". Provide special instructions to the data capture team for specific vendors through Odiss.
"After 5 years with another company, we were undergoing a big change to our Accounts Payable process and needed to find the right company to work with us. Octacom demonstrated very early on that they were interested, innovative and enthusiastic to work as part of our team. Their facility and staff impressed us as did their ability to grasp the technology and integration that would be required."
"Octacom is the reason we were able to achieve our goal of creating a centralized and automated AP process with integration to Unit 4 Business World. We had complex requirements with granular and automated GL coding, but it was no match for Octacom. Further, the ability to manage our exceptions digitally within Odiss has been a huge help, as we have AP personnel all across Canada."
Explore the Services that form Octacom's Accounts Payable Automation Solution:
