Accounts Payable Automation for Educational Institutions

In recent years, educational institutions have been subject to decreasing budgets, stretching dollars while preserving the quality of their students’ learning experience. 

Accounts Payable involves a cumbersome, multi-step process that takes your administrative team away from other duties that directly enhance education. When your staff manually handles invoices, the end-to-end process can take weeks to complete. This lag in processing can cause your school to miss early payment discounts and rack up avoidable late fees.

Educational institutions from primary and secondary schools, colleges and universities, and trade schools can significantly reduce invoice processing time and effort by adopting Accounts Payable Automation. 

How ACI’s AP Solution Works

Ash Conversion International’s (ACI) AP Assistant™ solution provides complete end-to-end AP automation that eliminates manual AP processes and reduces operational costs. AP Assistant processes invoices automatically, reducing the processing time by up to 17 days. 

Our AP automation process is fast, convenient, and secure – taking away the manual work from school staff while improving efficiencies in the day-to-day operation. 

Here’s How AP Automation Works:

• All invoices (hardcopy and digital) are captured into the AP Automation system
• Optical character recognition (OCR) accurately captures information from the invoices
• Information such as vendor name, invoice amount, line item details and more is stored as data points that can be retrieved by authorized end-users

Invoice images and data files are securely stored in FileManager™, our secure, cloud-based document management platform that enables real-time remote visibility into your AP system. Invoices are then sent through the system for review and approval before registering into your ERP system.

AP Assistant™ also offers the power of machine learning that adds an extra layer of intelligence with every scanned and processed invoice. The result is more accurate invoice classification and more accurate data validation. That means fewer exceptions and more touchless invoice approvals.

Benefits of Accounts Payable Automation for Education 

Some of the key benefits of using AP Automation at your educational institution include:

• Streamlined processes: No more keying entries manually simplifies and speeds up the workflow
• Faster invoice approvals: Quickly and easily approve invoices through an easy-to-use interface without searching for email attachments
• Secure remote access: Securely review invoices or data from anywhere in the world and on any device
• Robust auditing tools: All invoice activities are recorded in a log for fast auditing, analysis, and setting of controls
• Seamless interface: Our AP automated solution interfaces quickly and easily with your specific procurement, accounting, and financial systems 
• Simple functionality: Your team will be up and running quickly on the automated AP solution without the requirement for extensive training
• Complete scalability: As your needs grow or ebb, our AP Automated solutions seamlessly adapt to your changing needs 

The benefits of adopting AP Automation for educational institutions are clear, but even better are the real-world results that ACI clients have experienced using our solution.

What Our Customers Have Achieved Through Automating AP:

Case Study 1

Our first case study is for a client who had been processing invoices manually, which caused invoice approval delays of a week or longer. They were also facing critical challenges in staff overhead, turnover, and the retirement of key people. We implemented our AP Assistant™ solution with unique rules customized to their specific needs.

Results from the ACI AP automated solution:

• Over 90 percent same day auto-approval rate on invoices
• Improved productivity with secure remote access from any location
• Enhanced data entry accuracy 
• Reduction of staff overhead through asset reallocation 

Case Study 2

This client required a means to streamline their AP processing while significantly reducing costs. We implemented AP Assistant™ and began processing invoices for approval. Once approved, AP data is then forwarded to the client to be uploaded into their financial system to process payment. 

Results From the ACI AP Automated Solution:

• Over 70% reduction in department overhead
• Elimination of accounts payable hardcopy, faxed or emailed invoices
• Acceleration of accounts payable invoice processing
• Elimination of late payment fees
• Improved opportunity to take advantage of vendor discounts
• Substantial improvement in vendor relations

Accounts Payable Department Automation for All Levels of Education

We provide AP solutions for all levels of education, including:

• AP Automation for K-12 school districts and boards
• AP Automation for charter schools and private schools 
• AP Automation for higher education: colleges & universities
• AP Automation for trade schools and colleges

ACI can transform your educational workspace quickly and efficiently to help you manage your AP processes with more accuracy and efficiency. 

ERPs That ACI’s Automated AP Solution Can Interface With:

ACI’s automated AP solution easily integrates with the most popular enterprise resource planning (ERP) tools used in modern educational institutions, such as:

• SAP
• Microsoft Dynamics GP
• Oracle
• PeopleSoft
• JD Edwards
• Lawson
• Baan
• Sage 300 (formerly Accpac)
• 4th Shift
• Capp Auto
• Yardi

If your school doesn’t use any of these ERPs, get in touch with us today to test our solution’s compatibility with your system. We’re confident we can find a way to ensure full compatibility with your school’s technology!

Why Choose ACI for Your Educational Institution’s AP Needs

We understand the challenges that today’s educational institutions face. We specialize in taking care of the backend AP processing so you can focus on shaping minds and preparing them for success.

For over 40 years, ACI has specialized in transforming how companies run their daily processes with efficient, cost-effective solutions, including AP document scanning. We offer customized AP automated solutions designed to save money, increase efficiency, and streamline operations, with a customer service experience unparalleled in our industry.

Click the button below and contact us today to learn more about how ACI’s invoice imaging and AP Automation solutions and services can help make your business more profitable today.