AP Automation for Dynamics GP with Multi-Entity Management (MEM)

Microsoft Dynamics Automation for AP

Organizations are looking for ways to automate their financial operations. The problem with many ERP solutions is that they don’t handle essential accounts payable processes very well. As a result, AP teams end up having to manually match POs, key in invoice data, deal with file folders, use couriers or email to chase down approvals, and more.

Many businesses with multiple entities need to be able to run transactions for all payables and receivables through a central office, let each entity manage its own transactions, or a combination of both. This can be hard to do with Dynamics GP alone.

Organizations using Microsoft Dynamics GP can use Binary Stream’s Multi-Entity Management (MEM). MEM for Dynamics GP accurately posts the due-to and due-from journal entries across multiple General Ledgers inside a single Dynamics GP instance, while still upholding role-based permissions.

Binary Stream’s Multi-Entity Management (MEM) Software

Companies use MEM with Dynamics GP to manage multiple entities from a central office, letting each entity manage its own transactions. With a single, centralized database, MEM on Dynamics GP allows businesses to run transactions for all payables and receivables through a central office, let each entity manage its own transactions, or a combination of both.

Binary Stream’s MEM is a popular addition to Dynamics GP that has:

  •  real-time consolidated reporting
  •  centralized transaction processing
  •  scalable security

Microsoft Dynamics GP AP Automation with Palette

The same organizations can also use Palette AP Automation, to boost the efficiency of accounts payable teams. Palette provides Microsoft Dynamics GP accounts payable automation with Binary Stream’s Multi-Entity Management (MEM).

Palette’s AP Automation solution for Dynamics GP is a configurable, modules-based solution available in the cloud. It captures invoice data, provides a robust approval workflow, automates the matching of purchase orders and invoices, and has a searchable invoice archive for auditing purposes.

Companies are doubling the productivity of their AP operations with features such as:

  • email and paper automated invoice data entry
  • invoice processing in an intuitive dashboard
  • automated approval workflows
  • automated PO matching
  • searchable invoice archive and audit trail

Capturing Invoice Data

Many companies manually enter invoice data into their ERPs. Some will print out emailed invoices and manually key in the information. The good news it is possible to eliminate manual data entry, reduce manual errors, and reduce the likelihood of fraud all in one stroke.

There is one workflow for automating the data entry of paper and emailed invoices. Paper invoices are scanned with OCR technology that reads the information on the invoice and extracts essential data. Emailed invoices are electronic documents with a data layer, and cloud capture technology extracts the data from the data layer. In both cases the invoice data is populated inside Palette’s invoice processing dashboard.

Approval Workflows

Many companies have gone through the painfully expensive exercise of trying to code workflows into their ERP. Truth is, ERPs were not built for approval workflows. Palette has a complete approval workflow that distributes invoices to the right approvers. It’s a configurable solution with mobile capabilities and ad-hoc rerouting.

PO Matching

Palette automatically matches purchase orders to invoices and goods receipts. The technology transfor­ms AP departments in that the matching takes place in minutes without anyone having to review the documents. If there is no match, the system flags the invoice and sends all the information to the proper approver to reconcile.

Archive and Audit

For auditors and company investig­ations, Palette stores all vendor invoices and provides a time-stamped audit trail. That’s a big time saver for AP staff as everything is searchable in the cloud.

Find out more about Palette AP automation and Microsoft Dynamics automation with MEM here.