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AP Automation coming soon to Opera 3 SQL SE

We are thrilled to announce that AP Automation is coming soon to Opera 3 SQL SE to streamline the way your business processes invoices.

What is AP Automation and how does it work?

Invoice Capture in Opera 3 SQL SE combines advanced Artificial Intelligence (AI) and Machine Learning technologies with Optical Character Recognition (OCR) to ensure the highest level of accuracy, with the minimum amount of work. 

You are allocated a unique email address to access the e-Invoicing Portal for suppliers to direct PDF invoices to. Alternatively, you can send them to your own email address and forward them to the Portal yourself in bulk. 

Unlike some software, we deliver both the invoice header and the invoice line level information for every invoice processed to simplify the Nominal Ledger coding process, to ensure the correct approval process takes place and to provide essential granular level insight into purchases. 

Purchase invoices will appear in the system as a PDF, along with all their attachments, where you can add Nominal Ledger Coding. Once in the system, your Finance teams will have complete visibility and control over the status of each invoice throughout its entire lifecycle. At this stage our duplicate invoice check will ensure no invoices are paid twice, and automated bank account detail capture and validation within Opera 3 SQL SE reduces the risk of fraud. Invoices will be stored for seven years to meet audit requirements. 

The capture and coding activity is followed by a digital approval process which can be conducted from any device, anywhere, to speed up the approval process, and once approved, the transaction will automatically appear in Opera 3 SQL SE with a full audit trail.

What are the benefits of AP Automation?

• Invoice capture in any language, currency or amount.
• A unique email address for suppliers to send invoices to.
• Includes line level data extraction.
• PDF, doc/docx, xls/xlsx, htm/html, xt, tif/tiff, Jpeg plus many other file types accepted.
• Fixed price per invoice with no additional charges for number of invoice pages, currency or language.
• Invoices are stored for seven years to meet audit requirements
• No additional costs to add extra suppliers.
• Eliminates duplicate invoices.
• Reduces the risk of fraud.
• Delivered as a service, removing the need to AP validation to save time.
• Provides visibility over every invoice throughout every stage of its lifecycle.
• Reduces the risk of invoices becoming misplaced.
• Saves time and drives productivity gains of between 65% and 95% depending on how many invoices are processed.
• Helps pay creditors quickly, thus minimizing issues which could disrupt supply.
• Nominal Ledger coding is simple to automate by supplier, specific invoices and for each and every line of the invoice.
• “Defaulting” capabilities for Nominal Ledger coding to reduce repetitive processes.
• Reduce invoice approval time by 50%. Automated email notification to approvers and reminders to speed up the process.
• Improve supplier relationships with faster payments.
• Comprehensive dashboards and reporting provide drilldown to specific suppliers and their invoices to highlight the status of each invoice.
• Export reports to Microsoft Excel for even more manipulation and analysis.

When will AP Automation be available to purchase?

It is coming this Spring. Watch this space for sneak peeks, information, and release date to be announced very soon.

Next steps…

Register your interest in this exciting new feature with your Pegasus Partner so you can be one of the first to benefit from it when it is launched this Spring.

Posted On: January 24, 2023