Accounts Payable Services
Services to receive your invoices, T&E's and more; convert them to a consistent format; and extract the data you need
"53.7% of survey respondents cited
'High paper invoice volumes and receiving invoices from multiple channels are the biggest contributors to AP processing complexity'."
"AP processing will become more complex over the next two years for most organizations."
2015 Accounts Payable Efficiency Study
Sponsored by The Institute of Financial Operations and Kofax
Get your invoices into the processing queue FAST
"High paper invoice volumes and receiving invoices from multiple channels are the biggest contributors to AP processing complexity. Further, AP processing will become more complex over the next two years for most."
Reynolds Accounts Payable Services eliminate these two hassles along with many others, enabling your Payables staff to focus on high-value tasks.
You can pick and choose from our menu of services, enabling you to start small and add services as you see fit - We can receive your invoices (mail, e-mail, partner portals, etc.); convert them to a consistent format that will enable easy retrieval; extract the data you need; return them to you in the timeframe you require, formatted for import into your ERP or other systems; and much more.
Your EPR systems are fed the data they need so that most invoices are matched and payed automatically with no intervention. Your employees can retrieve any invoice with just a few clicks, and automated workflows route approvals and exceptions around quickly.
We provide similar services for T&E's including easy to use Employee portals that enable employees to take receipt pics fro their phones.
These are typical steps:
If you're like most payables departments these days you have invoices coming at you from a million different directions - mail, e-mail, fax, maybe a supplier portal, and numerous other ways. Not only are they coming in in different ways but they're also in different formats - paper, PDF, the occasional stray .jpeg or .tif, comma delimited files and more. Reynolds can take the headache of receiving all of this away:
We provide either pickup at your facility on whatever schedule you require or we receive your mail via a local PO box.
We can use your existing supplier portal or if you don't have one, we can set up an easy to use portal that gathers all the information you need.
We can receive your e-mail for you via your existing e-mail address(es) or we can set up new ones for you.
We can receive your faxes electronically to save having to scan them later.
Conversion to a Consistent File Format
Whatever we receive we'll convert to a consistent format (typically tiffs) that can be imported into your ERP or other systems giving your employees instant access and greatly increasing visibility into your payables.
Reynolds Conversion Services department is one of the most experienced in the world having converted nearly a billion items into consistent, easy to read images. Our production-level hardware, software, and programming enable unmatched automation and quality which reduces costs and enables crisp, clear images.
Data Extraction and Validation
Once your invoices are received and converted, the information you need from them - invoice number, invoice date, dollar amount, even line items, etc. - is extracted in the most automated way possible. Pulling the data you need from your invoices is the most important and challenging part of the process. Reynolds typically uses a combination of automated and manual processes to extract this data quickly and cost-effectively. A combination of industry-leading software and experts in AP and conversions enable us to provide second to none extraction services.
Once data has been extracted it must be formatted the way your system requires for import. Reynolds provides import routines into SAP®, PeopleSoft, Lawson, Oracle® EBS, and more. Our import routines are 100% GUARANTEED. If you don't have a system to house your images, or if yours isn't as easy or functional as you'd like, Reynolds provides document imaging systems that enable authorized employees to retrieve any invoice in seconds.
Reynolds software engineers can create reports for almost anything you require - . Exception reports are the most common. When information from your invoice, PO, and/or receiving documents doesn't match, you'll know automatically.
Ancillary Invoice Products and Services
If you don't have an existing system that allows retreival of your invoice images, Reynolds provides simple to use web-based imaging systems that enable your employees to pull up any invoice in seconds.
Reynolds Payables experts can set up easy, automated workflows for exceptions and approvals that can include everything from automatic re-routing when some is out to escalations.
Frequently asked questions
How fast is it?
In-house - Automated systems are proven to reduce processing times by 50%.
Outsource - Same day service for invoices submitted by 2:00 PM.
Where does outsourcing occur?
Allentown, PA but invoices can originate from anywhere in the world.
We outsource payables. Can this still help me?
Absolutely, many of our customers outsource payables, in many cases to overseas vendors. In this case, we work with your outsourcing company, just as we would if you were doing it yourself. You benefit from the speed, image quality, and data accuracy we provide plus increased control and transparency. We work with many of the world's largest outsourcing companies on a daily basis.
Data and images formatted for easy import into your
systems - GUARANTEED
Receive the data from your invoices and your documents/images formatted for
easy import into your ERP or other systems. Reynolds provides import routines
into SAP®, PeopleSoft, Lawson, Oracle® EBS, and more. Our import routines
are 100% GUARANTEED.