Applexus Insite
Intelligent Supplier Invoice Transformation and Enablement
InSITE is a next-generation Vendor Invoice Management solution. InSITE offers a holistic invoice management platform that enables the Accounts Payable teams to leverage AI-driven automation, seamless collaboration, advanced analytics, and compliance support to streamline their processes, close the gaps, and influence the bottom line.
The future of Accounts Payable is about more transparency, greater visibility, and managing an eco-system that participates in the invoice journey. You need a holistic AI-driven vendor invoice management solution that transcends beyond just being an invoice automation solution for the individual tasks in your AP. InSITE, as one of the best vendor invoice management solutions, supports and streamlines your AP for more productivity, highest transparency, fewest errors, and top-tier savings. Seamlessly integrating with your SAP landscape (SAP ECC or S/4), our SAP invoice management solution and implementation methodologies aim to unlock maximum value from your AP processes.
During the invoice journey, from intake to payment, besides the Accounts Payable team, suppliers, procurement team, and material store managers also get involved. Streamlined integration of activities across the invoice journey ensures optimized processing time, greater transparency, and visibility. End-to-end invoice processing needs an ecosystem with activities that mesh seamlessly for a smooth invoice processing experience. Explore the invoice flow through InSITE, one of the leading vendor invoice management solutions in the market, to realize how invoices get processed through a centralized, single platform, from receiving an invoice to posting.
What separates us from the crowd
Unlock more value from your Accounts Payable by integrating key capabilities that improve your operational efficiency and elevate your financial metrics to result in high returns and maximum value. Read how a Value Assurance Framework (VAF) helps identify value-addition opportunities and helps initiate other improvements within your AP to capture the expected value. In essence, identify an exhaustive list of opportunities where process improvements can add enormous value to your vendor invoice management system.
Supplier Self-service Portal
Explore how onboarding suppliers to a centralized interface like a collaboration portal makes it easier to manage every invoice-related activity with ease.
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AI-driven invoice automation solution
See how Artificial Intelligence (AI) driven automation with self-learning ability enhances the accuracy of Accounts Payable functions over time.
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Analytics & Reporting
Read how real-time Analytics and reporting in your AP solution can help to view the health of your working capital and provide deep insights into your spending.
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Compliance
Manage your audits and compliance better with detailed activity log saving you from unnecessary fines, delays, and audit efforts.
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Applexus helped a leading Fashion brand manage their invoices better. Read how integrating InSITE offered a single platform to process all invoices, eliminate non-value adding activities from their invoice processing cycle, and helped automate additional transactions. In essence, they could store and retrieve documents faster, simplify auditing, streamline cash flow, make the processes more time-efficient, eliminate errors, and so much more to optimize their AP processes.
Multiple intake channels
InSITE, a powerful vendor invoice management system, streamlines invoice intake from different channels and centralizes it to simplify invoice acceptance. Instead of relying on an AP team member to manually source, compile, and process invoices from different channels and in various formats, InSITE lets you accept invoices straight into the system without any manual intervention. The entire process saves time and streamlines the way invoices are channeled into the AP.
- Connect the various disparate invoice sources into one
- Automate intake of invoices from multiple sources
- Accept invoices from different interfaces Email, EDI, iDOC, and external portal
- Accept invoices from Supplier Collaboration Portal (SCP)
Applexus Intelligent Data Extraction and Recognition (AIDER)
The Artificial Intelligence (AI) in InSITE recognizes and converts unstructured metadata from the invoices into standard and structured formats and auto-populates the data into the respective fields for the AP indexer. The process relieves the AP team of manual work, saves time, and reduces errors. This allows you to process more invoices as the company scales and the volume of invoices grows.
- AI-driven data extraction - no manual data entry
- Annotation to capture incorrect or missing invoice details in the correct field
- Machine Learning helps increase efficiency /accuracy with usage for future invoices
- Deploy on-premise or cloud
Automated Routing
Automatic routing of invoices to AP staff ensures that the correct invoice reaches the personalized cockpit of the designated resource in the AP without the need to intervene and forward the invoice manually. Invoice from a said supplier, above a certain amount, or as per any other condition laid can be redirected to the exact person responsible. In essence, the entire routing mechanism can be configured as per your company policies.
- Automated assignment of General Ledger (GL) Code
- Cost center splitting and Automated assignment of Cost Center
- Automated assignment of Approval workflow
- Automatic bulk posting of the invoices
Fraud Prevention
Suppliers committing frauds through overbilling / double billing or an internal employee scamming the AP by submitting false invoices will no longer be an issue. The robust and stringent inbuilt rules and fraud detection algorithms running on the backend ensure AP never again drains its working capital or commits to any fraudulent payments accidentally. Powerful fraud protection procedures ensure AP steers clear of incurring any unnecessary financial losses.
- Duplicate check to verify the authenticity of unique invoices
- 2-way matching for non-PO-based invoices and 3-way matching for PO-based invoices
- Line item determination logic to validate every ordered item in the invoice
- Validating data with the master data in the SAP backend (bank details, etc.)
Automated Validation
The overall behavior of your Accounts Payable (AP) and the actions that follow can be personalized to suit the rules of your ecosystem. A controlled and automated exception handling mechanism with a powerful exception management workbench ensures any invoice with issues that don’t conform to the pre-existing policies gets processed exactly as your AP would want. Set special rules to dictate the following action after the AP team receives an invoice from the vendor.
- Configurable business rules as per company policies
- Activate/deactivate business rules
- Pre-configured 50+ business rules for PO and Non-PO invoices
- Tolerance levels for triggering business rules
Workflow management
InSITE helps you build a reliable approval workflow, remove any bottlenecks, and minimize delays, making it easy to raise and assign invoices to the concerned member in the AP and get the invoice from intake to payment faster. In addition to this, you don't need to follow up with an approver. Get the in-build automation to route the invoice to the next authorized person in the AP team in anyone's absence. This system automatically notifies and sends an email to the next concerned person.
- Customized approval workflow as per Chart of Authority (COA)
- Substitution management to transfer responsibilities– helps stay nimble and responsive
- Multi-level and parallel approval of invoices
- Bulk approval of invoices
Analytics and Reporting
Quantify, visualize, and comprehend the overall health of your AP in stunning detail. The user-friendly, intuitive, and informative dashboard reveals how your AP is faring with respect to suppliers, discounts, late payments and other variables. Study the information to take informed and data-driven decisions about your Accounts Payable, which goes on to elevate the performance of your AP, maximizes savings, and increases the overall value.
- Identify, diagnose, and take appropriate actions on different metrics and KPIs
- Customized and drilled-down reporting capabilities
- Rich and Powerful Analytics Dashboard
- Summary view dashboard to review spend analysis
- Co-innovation of reports
Supplier self-service portal
Manage, coordinate, and serve your suppliers better to elevate your relationship with them. Supplier self-service Portal is common workbench that frees up time of your AP team to chase suppliers or suppliers chasing AP clerks for updates on invoices. A common portal keeps communication lines open, gives full transparency, and absolute control to manage every aspect of invoices from a centralized platform. Dependency on a single platform makes the whole operation more seamless and time-efficient.
- Onboard suppliers to make it easier for them to coordinate on an invoice
- Suppliers can view, request modification, receive updates, and accept Purchase Orders (PO)
- Suppliers can view, upload, manage all the invoices, and attach additional documents
- Supplies can track status and payment information of all the invoices
- Suppliers can create and update shipping notification
Spend management
Automatically monitor and give enough advantage and flexibility to your AP to take corrective actions on the overall spend in your AP. The algorithm within InSITE allows room for automatic detection of suppliers that offer better discounts at a given moment. Give preference to vendor’s invoice where the discount rate makes more sense for your business’s cash flow and working capital. Ultimately, pick invoices that help to manage your cash flow better and offer higher returns.
- Track late fee payment and other associated fees
- Automatically capture early pay discounts
- Ability to implement dynamic discounting
- Check supplier performance
