Advanced accounts payable productivity reporting

With Cevinio Invoice-to-Pay software there would be no secrets for you to improve the effectiveness of your AP structure. Based on data, you will be able to draw better conclusions, and consequently take informed actions to improve the accounts payable productivity and process. Analytics is equal to better decisions.

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Cevinio Invoice-to-Pay advanced reporting capabilities

At Cevinio, we are committed to helping our clients reach higher productivity today and tomorrow. For that reason, we have introduced advanced productivity reports to the list of features of our invoice automation solution. Other features of our software are innovative approval workflow or the accounting and compliance robot, to name a few. Our productivity reports will provide you with easy to interpret data. As you analyze the data, you will draw conclusions and determine whether to act on them. Some of the reports available are on accuracy, productivity, and duration.
Insight into process throughput times (duration from receiving to posting an invoice)
Goals: acquire understanding of the invoice life cycle; how long every step requires; high level reports with drill-down capabilities; and how to improve the process to make it more agile.
Insight into productivity (depending on local legislation) regarding productivity and accuracy of teams as well as individual levels
Goal: identify how teams can work as efficiently as possible by providing comparisons between high-volume suppliers and including insights to improve productivity and accuracy on supplier level.
Insights into the invoice approval workflow by displaying waiting and processing times of each step
Goal: identify opportunities to further improve the efficiency of the invoice approval process. Required changes can be made to the process, without specialized IT knowledge, by the authorized people of the accounts payable team
Insight into accuracy of OCR (Optical Character Recognition), engine by showing on data-point level (per country) recognition percentages
Goal: improve the accuracy levels of the OCR solutions, by adding keywords/rules to the robot. A majority of this effort will be performed through machine learning, in some cases manual support is required.
Insight into the efficiency of the entire Source-to-Pay process. Finance specialists typically can detect the “errors” earlier in the process
Goal: provide for facts to support sourcing, contracting, and purchasing teams to further streamline their processes.
Insight on supplier efficiency: ability to learn from high-volume suppliers
Goal: improve the accounts payable process for large suppliers and provide insights to improve the process for smaller suppliers.

As a result

Gain visibility and control of the invoice process by activating our productivity reporting capabilities. You will get insight into relevant information to take informed decisions on an ongoing basis. Data based information and resulting actions will enable to convince people in the organization to adapt and improve!

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