Ricoh Australia has launched an Accounts Payable offering, a new end-to-end invoice automation solution to enable companies to improve their financial processes, increase productivity and reduce costs.

Ricoh’s Accounts Payable solution can be configured to fit customers’ unique accounting systems and processes to automate their accounts payable processes, delivering greater visibility and cash flow control. It also significantly reduces the burden of manually entering invoice data into existing enterprise resource planning (ERP) systems, which can be leveraged as a single source of financial insight for a company. This helps improve invoice data integrity, leading to fewer mistakes and a reduced need for problem resolution.    

Stuart Hammond, Group Manager, Solutions & Technology Product Marketing, said “Ricoh had several customers who were asking us for an intuitive accounts payable system that offers flexible approval processes. We recognised the need for a simple solution that we could also integrate with a Ricoh multifunction device.”

Ricoh’s Accounts Payable solution lets companies match invoices against purchase orders while providing an electronic audit trail, receipt documents and contracts. It enables standard invoice management processes across all locations; integrates with enterprise resource planning or financial solutions; and searches archives by name, company, or address for fast retrieval and review.  

Alan Burt, chief technology officer, Ricoh Australia, said, “Aberdeen Group research has found that, companies that have standardised their invoicing processes report cycle times 46% faster than those with paper-based accounts payable processes.

“The automated workflow delivers cost efficiencies and improves processing speed. It allows employees from different departments or in different locations to scan documents into workflow systems for routing, approval and payment, turning it into a process as simple as pressing a button on their Ricoh multifunction device.”

Ricoh’s Accounts Payable (AP) Solution uses Smart Process Application Software for imaging, data extraction and document processing. Ricoh partners with a number of ISV's solutions that can either deliver an end-to-end platform or part of the solution.