The Accounts Payable department used to be awash in paper, drowning in invoices, bills, and agreements. The switch to computerized systems has changed this somewhat, allowing organizations to track everything electronically. However many vendors still insist on sending out paper copies of invoices and bills, so what are AP departments to do with them? If you’re using Oracle Fusion, invoice tracking is simple with Fusion Payables.
Scan Your Invoices Directly Into Fusion Payables
It’s true. Fusion Payables includes integrated invoice imaging out-of-the-box, so you can track your invoices throughout the entire lifecycle. No need to install third-party software to help with image integration, it’s already included. Simply scan your invoices and start using them right away.
Reduce Data Entry Errors
Because you’ve scanned the invoice directly into Fusion Payables, users can reference it at any time when reviewing or approving them. Fusion Payables pulls data directly from the scanned invoice, thereby reducing any data entry errors. If it’s on the invoice, it’s in the system right away.
Speed Up Approvals & Reconciliations
The new Interactive Payables Dashboard presents an overall view of all invoices and payments that require attention, based on user roles. See only the information that you need to see, when you need to see it. Approvers can take action on any invoice directly from the dashboard, saving them time. Fusion Payables sends out notifications to appropriate users as soon as invoices are scanned and processed, saving approvers even more time as they’re notified only when they’re required to perform an action.
Close Your Books Faster
Not only is your overall Invoice Processing faster, but your General Ledger Reconciliation is too. Fusion Payables ensures that your payables activity is properly and efficiently captured in the system, which allows you to accurately calculate all of your finances. Your financial results are completed accurately and efficiently, giving you the information and time to investigate any differences and issues.
Empower Your Mobile Workforce & Work Offline
Departments that are used to working offline with their Invoicing tools, such as with Microsoft Excel, can still do so with Fusion Payables. Download compatible Excel templates, enter and work with data offline, and then upload it for verification and processing in Fusion Payables. Whether they’re in the office or out in the field, your employees can still work with their invoicing data and send it to Fusion Payables for processing.
Save on Training Costs
Another reason for using Fusion Payables and the offline Excel templates is that you’ll save on overall training costs. Your employees are already familiar with Excel, so no extra training is needed for them. You’ll only need to train the smaller user base who’ll be interacting with Fusion Payables directly through the dashboards.
Take Your Invoicing to the Next Level
Fusion Payables is the next evolution in Accounts Payable invoice tracking.
- Streamline your invoice entry with the integrated imaging and scan your way to paperless tracking.
- Reduce approval time and invoice handling with the interactive Dashboards that only show the data that you need to do your job.
- Empower your mobile employees with offline Excel templates that reduce the overall invoice processing time because your in-house staff isn’t waiting for the data.
Read the success story: Improved Productivity by Successful Implementation of Oracle Fusion Cloud
Need Help with Fusion Payables?
Contact Jade Global today and let us help you with your Fusion Payables project. We’ll assess your situation and technical environment, and make recommendations on how to best take advantage of your Oracle applications. We’ve helped numerous organizations through this process, helping them choose the best fit of Oracle apps that help your business succeed. We’ve got the experience and expertise to navigate this process for you and with you, so your organization gets set up quickly and efficiently. To find out how our Fusion experts can help you today, contact us for an assessment. Our Oracle-certified consultants are ready to help.