Sage Intacct Invoice Processing & Invoice Automation Software

October 25, 2021 / in AP Automation

Businesses incur more than $2.7 trillion annually in administrative costs, but analysis by Goldman Sachs shows that automating your AP and invoice processing can reduce costs by up 75% and dramatically improve productivity.

The cost to process one invoice manually averages nearly $13 — three times the cost of automation. That doesn’t include the cost (or time) involved in fixing errors, additional fees for late payments, or tracking down invoices lost in the approval process.

Advances in software platforms over the past few years have proven effective at reducing time and costs for finance teams. For example, Palette AP Automation is a cloud-based solution that handles complex approval workflows to streamline approval processes. Invoice capture, processing, automated PO matching, and a searchable invoice archive provides users with complete control over supplier invoices and a transparent audit trail for audits or investigations.

The Benefits of Sage Intacct Invoice Processing Automation

Palette Invoice Processing Automation provides:

  • Ease of Use: Approvers can view and approve invoices on any connected device with a single click in an email. This streamlines workflow without having to train executives on new platforms.
  • Time Savings: Customers typically find cycle times for invoice processing and approval can be reduced by up to 50%, ensuring bills get paid on time.
  • Complete Transparency: Finance teams can view all payables in real-time. This makes it easy to track invoices and see when something is stuck in the approval workflow. No more invoices getting lost on someone’s desk or sitting unnoticed in a file.
  • Exception Handling: Invoices are automatically matched with POs. Any exceptions are flagged and sent to approvers for reconciliation, along with any relevant information.
  • Secure Processing: Palette provides robust security that meets or exceeds SOC 1, SOC 2, HIPAA, and GDPR compliance regulations (among others).

These are just some of the reasons that 96% of Palette customers say the platform fulfilled their expectations and 95% consider Palette to be a worthwhile investment.

Accounts payable workflow automation

Integration with Sage Intacct

Palette integrates with Sage Intacct for a complete end-to-end solution for AP teams. With an integrated solution, Palette’s AP Automation for Intacct provides a flexible approval workflow — including invoice approval by email. Features include invoice data capture, automated workflow, 2 & 3-way PO matching, seachable archive and audit, and automated management of recurring invoices and contracts.

While Sage Intacct automated invoice processing has extensive functionality, Palette’s AP automation adds additional layers of capabilities to add even more time and savings for everyone involved in the purchase and reconciliation process.

Here are some of the key benefits of integrating the Palette invoice processing system with Sage Intacct:

Time Savings

Palette’s invoice processing automation for Intacct speeds up invoice capture, invoice processing, and invoice approval in several ways:

  • Built-in character recognition scans headers and line-item information for invoice capture
  • Automated approval workflow routes invoices to approvers
  • Exceptions flagged for reconciliation automatically
  • Complete time-stamped audit trail for investigations

Improved Accuracy & Streamlined Processes

Integrating Palette’s AP automation software with Intacct helps to:

  • Eliminate human error
  • Eliminates the risk of duplicate payments or inaccurate payment amounts
  • Streamlines reporting, budgeting, and auditing
  • Be alerted to time-sensitive issues, such as upcoming contract renewals
  • No more lost invoices

Customized Solutions

Palette AP automation is customized to design Intacct AP workflows based on your unique business rules. Routing and approvers can be altered without having to resort to expensive developer costs for code.

Palette invoice processing system’s integration with Sage Intacct will speed up the invoice lifecycle, allowing you to not only pay your bills promptly, but also to take advantage of potential early payment discounts without upending your approval process and compliance requirements. This is challenging to manage in a manual AP process, which is why less than 21% of early-payment discounts are unclaimed by businesses, according to the Institute of Finance Management.

Improved Insight & Transparency

Besides complete audit trails on every invoice, you also get a dashboard with real-time reporting on KPIs. You see the big picture at a glance with the ability to drill down to find relevant data on any item. This helps you spot bottlenecks more easily, find areas for improvement, or identify noncompliance with business rules or spending policies.

You can also monitor the performance (and productivity) of AP staff, teams, or departments.

Supports Remote Teams

With the move to remote and hybrid workforces, a cloud-based solution using Palette invoice automation software and Sage Intacct provides a perfect solution. Data is secured in the cloud, but accessible by authorized users, so work can be done from any connected device, regardless of where AP teams or managers are working.

Palette AP Automation and Sage Intacct Automated Invoice Processing

To learn more about how Palette and Sage Intacct work together to provide a complete end-to-end automation process for accounts payable, contact the AP automation experts at Palette today or schedule a demo.

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