Accounting departments have an updated SharePoint tool for automating accounts payable billing thanks to a release from KnowledgeLake.
Workflow, Document Management
KnowledgeLake's Accounts Payable Solution for Microsoft SharePoint launched this week at the Microsoft Convergence conference, and it's focused on reducing invoice processing costs among other things. This is the kind of thing automation tools are perfect for, so we're kind of surprised this wasn't already out there from a vendor like KnowledgeLake.
On the other hand, the company has allowed it to integrate with systems like Microsoft Dynamics CRM and ERP systems, and that surely takes time to develop. Whether businesses were clamoring for this or not, it's available now, and it should help companies cut down on things like physical storage of invoices, packing slips, receipts and purchase orders.
Additionally, it could help businesses cut down on data entry mistakes that result in late payments, double payments and lost payments, for example. The Accounts Payable automation system allows for capturing, finding and accessing all manner of AP documents, and quickly processing them via whatever processes businesses already have in place.
Automated Accounts Payable Features
KnowledgeLake has provided a detailed system for accounts payable, and for enterprises with this specialized need, scanning and tagging documents in short order is a big plus. Furthermore, things like automated meta tagging help speed up workflows, a feature we see more and more of these days.
Integrate accounts payable documents across SharePoint with KnowldegeLake's latest release.
Other features include a duplicate invoice check, automatic triggering of certain kinds of invoice processing, reporting and analytics and a customizable desktop so workers can change things around the way they like.