With MaxxVault’s Accounts Payable Software Solutions AP Automation is as easy as 1-2-3.
With our accounts payable software solutions you can automatically route documents like invoices and purchase orders for processing and approval based on business rules that you set, while automatic alerts and workflow queues ensure prompt completion. Our AP automation software is simple to design and manage. Consider a typical Accounts Payable transaction. Automation begins with receipt of invoices. Invoices are captured typically by scanning, but may also be introduced into MaxxVault via drag-and-drop, email, fax, electronic form – virtually any source. Now, the invoices are routed electronically to clerks or managers for approval or rejection, or even automatically approved if certain criteria are met — of course, it is your criteria, not ours! MaxxVault accounts payable document management is designed to automate the way YOU do business, and follows your processing policies from start to finish. Exceptions such as large-dollar invoices may be routed to multiple approvers for sign-off. Status of the invoices are updated instantaneously with each step. This ensures that documents are consistently processed in much less time than traditional paper-based operations. Watch and see how the effects of quicker receipt, approval and payment of impacts your company’s cash flow.
Industry studies show that employees spend as much as ten times more effort searching for documents than they do reviewing the information within the file. In use, misplaced or lost files can send employees on a wild goose chase, wasting time and causing frustration. Documents stored in MaxxVault can be found quickly and easily using index or full-text searches.
As documents are stored, information such as purchase order, customer, invoice number, invoice total, etc. is stored in corresponding index fields. When a document is needed, it can quickly be found by searching on any one or several of the index values. Even if the document is currently being viewed by another user, in MaxxVault the document can still be found and reviewed.
MaxxVault makes document retrieval as easy as possible. Needed documents can be searched for and presented without having to switch software applications. Because MaxxVault is an open source and thoroughly advanced technology, integration with your accounting and line-of-business applications is simple. From within the business application supporting documents can be instantly called up. The information on the screen becomes the search values (such as Purchase Order number) and MaxxVault serves up the needed records.
Accounting for compliance
The advantage of using MaxxVault in your A/P department does not stop with improved access and workflow. Compliance with regulations like SEC, FINRA, Sarbanes-Oxley and the US Patriot Act will no longer be a strenuous tax on the A/P department’s efforts. MaxxVault Enterprise comes with a retention schedule feature that will allow your administrators to manually or automatically set expiry dates on your documents based on the document type. Corporate records are stored in the read-only archive and are instantly accessible when needed. When a record has reached its expiry date, it will notify the administrator to dispose of it properly. Should a document be required for an indefinite amount of time, for the purpose of litigation or otherwise, MaxxVault’s “legal hold” function will prevent a flagged document’s deletion, even if the document is past its normal retention schedule.
MaxxVault Enterprise can be tailored to accommodate your exact business compliance needs. Users of MaxxVault in your A/P department will worry less about the loss or accidental destruction of documents and be able to focus more on the true tasks at hand.
Dramatically reduce the costs associated with filing, routing and storing paper documents. With MaxxVault, document management is easier than ever. A/P clerks access the information they need in a few short keystrokes and customers get the answers they need within minutes. With the ability to route documents quickly through the payment and collections workflows your team’s profitability will soar.