Reduce Payment Processing Costs

There is not a company thriving today that doesn’t look under every stone for cost savings. Like ADP’s other solutions, ADP embraces a blend of automation, best practices and outsourcing to lower cost year over year. According to Aberdeen Group, electronic invoicing saves companies in the range of 68% to 76%. And as the use of Electronic Invoice Presentment and Payment (EIPP) expands, the value proposition evolves from a processing benefit to a treasury benefit, resulting in an even greater return on investment.

Better Visibility of Cash Flow and Optimization of Working Capital

In order to effectively manage your working capital and cash flow, it is critical to see the end-to-end process. Unfortunately, paper invoices come from different locations or departments. With ADP’s Automated Accounts Payable Solution, a streamlined business process allow for automated invoice capture, routing, approval and matching to electronic payment execution. Time-consuming manual steps are eliminated. With a greater visibility of cash flows, this allows for better management of trade terms and effective discount utilization.

Compliance and Controls

With automated workflow and approval process, real-time access to invoice information and audit trails is immediately posted on an on-line portal. Take advantage of complying with documentation requirements related to Sarbanes-Oxley (SOX).

Vendor Enrollment and Broad Adoption

With over 200,000 existing trading partners in the ADP trading network, you can enjoy an easy paperless payment migration. ADP helps your business migrate toward a paperless payment process by quickly converting suppliers, large and small, to accept electronic payments. With a proven enrollment strategy and ADP’s strong trusted brand, a measurable success is visible from the initial implementation phase.

End-To-End Accounts Payable Solution

• Ability to capture and incorporate all types of incoming invoices that are electronically translated into client’s preferred format. Paper invoices are scanned and double blind keyed providing 99%+ accuracy rate.
• Workflow management allows for automated routing, verification, and matching for both PO and non-POs. Advanced workflow engine reduces processing cycle times by at least 50%. Transactions with exceptions or disputes are viewed and resolved online in an automated fashion.
• Payment Management allows for different types of disbursement methods such as ADPCheck, ACH, International ACH, foreign drafts, wire, and P-card.

To Learn more about Accounts Payable Solutions, refer to the Additional Links section.