Automated Accounts Payable
The Aspire Accounts Payable module leverages underlying platform technologies to power special content automations that drive significant savings — up to 70% less data entry with processing times cut in half. Aspire’s impressive document workflows and advanced OCR processing means your vendor and subcontractor invoices do the work for you — data entry, account coding, and project assignments begin automatically.
Why Aspire is better.
Intelligent Document Capture and Coding
Aspire’s unique A/P entry options let your documents do your work. Vendors and Project Managers simply email or upload invoices to designated addresses or content folders and Aspire automatically begins the accounts payable process with no data entry.
Aspire captures all cost details and invoice due dates. With built-in optical character recognition plus machine learning, Aspire identifies vendor names and logos and associates them with matching accounts. Based upon prior cost assignments, Aspire automatically adds project codes too.
As charges then appear in Aspire’s “A/P workbench,” all vendor, project and account information are already captured, coded, and assigned with no accounting time required. As invoice assignments and projects change, updates are easily made as A/P managers review their queues. Aspire then remembers these line-level assignments, defaulting them in the next time matching invoices arrive.
Manual A/P entry is available too, if that’s your thing. 😊
Line-Level Approvals with Built-In Workflows
Aspire supports multi-line approvals, either for invoices with multiple charges or charges shared among many projects. Once again, as such scenarios enter the system, Aspire remembers the details, smartly matching and defaulting these rules when next encountered.
Each invoice and line-item may also be associated with a quick authorization workflow which instantly fires to approvers with the click of a button. Line-level approvers receive notifications via email or their Aspire ECM mobile app with all charges, due dates and invoice copies for reference. Aspire also supports multi-step workflows, as well as dollar-value thresholds and vendor-specific controls as needed.
Options for Purchase Orders and Inventory as You Grow
Aspire A/P may additionally be configured to support both Purchase Order and Inventory options as your business grows.
Aspire supports two- and three-way Purchase Order matching and delivers real-time balances and inventory levels within approval workflows for review. All related documentation (including invoices, orders and more) also travels along with each line-level workflow, powered by OCR and machine learning to expedite entry and approvals.
“We love the Aspire automation platform. It’s made our A/P process a wonderful success.”
Highlights: Automated Accounts Payable
Attach Invoices and other Docs to Voucher Lines
Supporting compliance and powering approvals, invoices and other documents may be attached directly to voucher lines and viewed via workflows.
Flexible Approval Rules Match Your Business Practices
Aspire offers a simply powerful approval builder for all workflows supporting single and multiple approvers, revision and rejection scenarios, dollar thresholds, and vendor-specific controls. Add as many — or as few — elements as you need to support your procedures.
Approval Reports: Audit Histories, Reminders and Velocity
Aspire’s built-in workflow reports help you increase throughput by analyzing your most efficient workflows and highlighting steps and people around your bottlenecks. These reports are great for research and audit support too.
Approve Invoices on Mobile Devices
For approvers on travel, at project sites or on the go, Aspire’s Content Connect app (available on Android and Apple smartphones and tablets) delivers an easy workflow dashboard with a quick document viewer and one-click approvals.
Convert Subcontractor Time to A/P Vouchers
Providing flexibility for your processing, subcontractor labor hours submitted on Aspire timesheets flow into the “A/P workbench” for quick visibility. With one click subcontractor labor entries may be instantly converted to A/P vouchers for payment.
Sync Banking and Credit Card Transactions
Further streamlining both voucher and journal entries, easily import banking or credit card files in Aspire for batch processing, review and even workflows.
