The last five years have hit accounting teams in most US companies and organizations hard. The combination of staff reductions and an overwhelming increase in payables transactions stemming from mergers and acquisitions have dramatically increased the workload. Short staffed financial teams are drowned in transactions from agents in the field, multiple offers, customer projects, credit card transactions email and snail mail. Managing and storing and keeping track of all those documents and receipts remains the most burdensome of challenges. To alleviate the challenges and to drive more cost savings, CFO’s are making demands for smarter more efficient business processes. Ariett provides the efficiency that results in cost (and employee) savings, by electronically managing, storing and linking documents to their expenses, automatically ensuring proper approval and GL account coding while adhering to corporate financial business rules and – does so while helping you make deadlines for reporting and payment discounts.
Ariett Box4Dox Accounts Payable Automation
Ariett Box4Dox, a cloud service for accounts payable document automation, is the first workflow-enabled Accounts Payable Invoice Automation solution to trigger the creation of the Accounts Payable (AP) transaction and document workflow approval process, with zero employee involvement. It's the expense management industry's first truly automated solution that sets a new standard for speed, simplicity, and efficiency.
Box4Dox dramatically reduces the number of manual steps throughout the invoice handling process, resulting in faster, and more accurate AP processing. With Ariett Box4Dox, vendor invoices and employee receipts are emailed directly to a Box4Dox, securely triggering transactions complete with audit trail. Each transaction is date and time stamped, vendor coded and dynamically routed with documentation to the appropriate group or individuals specified by its configurable workflow. Ariett's simple yet flexible Box4Dox solution uses advanced technology designed to eliminate the need for complex, expensive and error prone character recognition systems that were required in the past.
"The key to success is to achieve a high degree of validation, automation and simplicity while addressing a problem that other e-Procurement and Document Management systems haven't come close to solving," ~ Glenn Brodie, President of Ariett.
Ariett Reporting Accounts Payable Invoice Dashboard
At any given time, Ariett’s reporting dashboard provides AP staff and senior management with real-time views of Accounts Payable activities – with individual transaction status, approvals, and documents via browser or Mobile device. Ariett Box4Dox document automation addresses the two areas that continue to dog traditional Document Management systems that utilize Optical Character Recognition (OCR) for financial transactions: inaccuracy in recognition, and the manual effort and time it takes to correct errors. OCR seems like a simple and easy solution in theory but can actually require a significant investment of time, hardware and troubleshooting to resolve recurring recognition errors. Ariett Box4Dox manages AP Invoices, Receipts and any supporting documentation through a unified interface, eliminating the time consuming task of opening, scanning, saving and processing. The delivery and processing of the invoice and receipt is simplified for vendors, employees and accounting staff, eliminating unnecessary time and human errors. Box4Dox is part of the Ariett e-Procurement Purchase to Pay Platform family of products which provides integrated business automation for Requisition and Purchases Order Management, AP Invoicing and Travel & Expense reporting.
Ariett's Purchasing and Expense Platform provides:
- A single, unified e-procurement solution for integrated AP Invoicing, Requisition Management and Travel & Expense reporting
- Dynamic real-time reporting for greater visibility into expenses and comprehensive control over the entire enterprise purchase-to-pay lifecycle
- User-friendly, self-service design allowing non-accounting and procurement professionals to quickly gain control over business purchases and expenses
- Open, extensible web-based architecture for integrating with other enterprise systems