Monday, May 3, 2010

FUSION Preview

Posted by Mark Brousseau

At FUSION 2010 at the Gaylord Texan Resort & Convention Center in Grapevine, Texas, next week, J&B Software will demonstrate its AP automation solution, I'm told.

J&B’s AP automation solution converts paper invoices and associated documents into electronic images. Optical character recognition (OCR) technology adapts captured invoice fields into usable data using ERP information, sophisticated algorithms and an extensive knowledge base. Following capture, the invoices and data are submitted to an appropriate staff member for review.

The automated distribution of discrepancy items for review is based on a sophisticated business rules engine that is configured according to individual company requirements. This speeds approval workflows while providing proper documentation and audit trails. The system’s dashboard controls also provide management with the tools necessary to adjust priorities, exception handling and bottlenecks as desired. Once invoices have been verified and completed for payment, they are exported to the back-end ERP or accounting system for posting and easy access.

J&B says its AR automation solution reduces manual processing, increases transparency and automates workflow so staff can focus on error and exception handling. Many organizations have departments that operate in silos, which make it difficult to integrate processes and deliver a complete set of documents related to a specific transaction, the vendor notes. J&B’s AR automation solution addresses these pain points by unifying workflow, freeing staff from manual tasks and allowing them to concentrate on exception, deduction and dispute management to accelerate resolution.

The solution consolidates payments and remittance documentation from a variety of complex paper and electronic input channels into a single portal, J&B says. The captured data is then verified against existing ERP payment data with an advanced cash application rules engine that decreases manual processing and helps avoid errors such as misapplied payments. After data has been verified or exceptions have been resolved, the system transfers the applied cash and associated transaction for posting by single or multiple ERP or back-end systems.

In all, more than 140 vendors will be showcasing AP, AR, payments and document automation solutions in the expo hall at FUSION 2010.

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