Accounts Payable on Cloud
Overview
Accounts Payable (AP) is at the core of finance and accounting (F&A) and supply chain functions, in spite of being a transactional process. There is continuous pressure on the AP function to reduce cost and improve efficiency, with zero tolerance for payment errors.
The Infosys BPM Accounts Payable on Cloud (APOC) is a platform that transforms the Invoice-to-Pay process by leveraging next-generation technologies and AI/ML algorithms as well as ensures time-to-value coupled with enhanced stakeholder experience. APOC replaces redundant processes and eliminates fragmented tools to become the single layer of engagement for all invoice processing needs.
Insights
Why us?
AP functions globally face several challenges:
- A substantial number of invoices go into fallouts.
- A significant percentage of invoices don’t get paid on time.
- OCR and existing extraction technologies are plagued with low accuracy and read rates.
- Invoice coding for non-PO invoices takes considerable effort and requires institutional knowledge.
The Infosys BPM APOC platform has been designed from our rich experience of providing AP services to 75+ clients worldwide and handling over 22 million invoices annually, as well as combining the best-in-class technologies available in the marketplace. The platform, built on our deep domain expertise, enables the AP function of organisations to considerably improve critical business levers — the 3Es of Efficiency, Effectiveness, and Experience — and provides real-time insights to stakeholders.
Improved Efficiency
Pre-built automation, compliance, and omnichannel invoice receiving capability to reduce handling time and increase Right the First Time (RFT) capabilityBPaaS
Delivered on a BPaaS model by domain experts with committed outcomesStakeholder Experience
Intuitive UIs, self-service capabilities, and conversational chatbots to enhance user experienceFuture-Proof Platform
Scalable, flexible, and modular to easily enable future volumesInsights
Visibility and actionable insights across the Invoice-to-Pay value chainEnd-to-End Automation
Next-generation technologies, AI/ML, OCR, smart workflow, and advanced analytics to streamline all invoice processing activities
Infosys BPM - Accounts Payable on Cloud Offerings
End-to-End AP Workflow
The configurable End-to-End AP workflow meets all invoice processing needs such as case management with allocation and prioritisation logic, multi-level approvals, exception management, and collaboration management. It also has inbuilt engines for automated data validation, 2/3 way matching, AI-/ML-based GL coding, and notifications.
Self-Service Supplier Portal
The Self-Service Supplier Portal allows organisations to collaborate with their suppliers in a secure online environment. It provides suppliers the capability to view invoice and payment status in real time, view open POs, submit invoices, raise queries, and interact with chatbots to get queries addressed.
AP Cockpit
The AP Cockpit provides ready analytics dashboard of all AP-related SLAs/KPIs, right from management reports to operational reports with multi-level drilldown till the transactional level. It includes compliance as well as duplicate defaults and tracking.
Request for services
Find out more about how we can help your organization navigate its next. Let us know your areas of interest so that we can serve you better
