Invoice Processing System
Stortext has partnered with the UK's leading E-procurement specialists to provide seamless Procure-to-Pay (P2P) solutions. E-procurement enables an organisation to leverage the power of the internet in purchasing supplies and services. This model integrates effortlessly with Stortexts outsourced invoice processing solutions and Cloud based invoice authorisation system, Omnidox:Accounts. All invoices whether paper, pdf or xml are receipted at Stortext and authorised by the organisation in the Omnidox cloud, clean data is then output to the back office finance system, be it Oracle, SAP, Sage or others.
Procure-to-Pay (P2P) solutions are driving major efficiencies whilst facilitating a seamless end to end experience that delivers unparalleled commercial streamlining.
The entire organisation benefits however the immediate impact is felt by Accounts Payable departments as the requirement for operators and expensive technology is removed by the adoption of the Stortext model.
Perfecting procure to pay (P2P) solutions: invoice processing
Back office outsourcing can help a firm make considerable efficiency savings. At Stortext, we have an enviable reputation for delivering world class P2P and invoice processing solutions. Without the utilisation of procure to pay (P2P) solutions, the accounts payable process can become an unnecessary burden for a dedicated accounts payable department. The entire organisation may benefit as downstream processes are improved by using our specialist services.
Outsourcing invoice processing
We have strong partnerships with E-procurement specialists that enable us to address the issue of P2P and invoice processing. We have developed Omnidox:Accounts as an invoice authorisation system; an essential part of our invoice processing system. Paper or electronic invoices can be received by us, authorised and then fed back to the back office ERP or finance system. Our invoice processing model ensures that efficiency savings can be realised in numerous ways. Our clients have realised efficiencies of 80% in AP personnel alone; significant further savings have been realised due to Capital expenditure of both hardware and software being removed. The model is flexible enough to be implemented in coordination with most financial systems that may be used by the firms we assist. Efficiency and flexibility mean that our invoice processing solutions are popular and effective with our clients.
Great performance from procure to pay (P2P) solutions
In a highly competitive environment, many firms can benefit from back office outsourcing. Back office outsourcing can reduce costs significantly. Furthermore, back office outsourcing can allow remaining back office staff to focus on core business tasks instead of being bogged down in work that can be transacted more efficiently elsewhere.
Stortext Procure to pay solutions are ideal in this context because they permit the exploitation of the potential of the internet. Our partnerships deliver procure to pay efficiencies while providing a flawless service to clients. Most clients greatly appreciate the commercial advantages associated with our service. This is because the need for employing costly technology is minimised by those who choose effective procure to pay solutions.
Rationalising the accounts payable process
At one point all of our clients had invested in an Accounts Payable Department which failed to deliver an efficient accounts payable process. These departments required skilled operators and up-to-date technology. However, while scarce resources were absorbed, the accounts payable process was not always as satisfactory. Understandably, executives were unhappy with the status quo. They understood that their investment in human capital and modern equipment was not being matched with the outcomes it warranted. They were prepared to follow their instincts and take radical action.
Choosing to adopt our model has permitted executives to take their organisations to the next level in terms of efficiency. Rationalisation and specialisation are highly productive business strategies. By embracing our effective solutions, you too can ascend to the next efficiency level. The accounts payable process is a routine procedure that should not be a drag on the competitiveness of your firm- so take action.
In business, you can usually only go in two directions. Your firm can accumulate more or less profit year by year. To maximise profits, efficiency maximisation is a tried and tested method. Using innovation through outsourcing can ensure that your business heads in the right direction.
