Accounts Payable Processing with Kofax KTM and Oracle I/PM
Every company no matter how big or small has an Accounts Payable department. It may be as small as one person or it may have ten, fifteen or more people. For medium and large companies there are problems that arise with the data entry of all that invoice data and the tracking of all those invoices through the approval cycle. There have been many different methods that companies have created to try and handle both which still lead to missing/late invoices and mistakes during data entry. Methods such as logging the invoices either in a spreadsheet or manually on paper are just some of the types of methods that companies have tried to keep track of where invoices are and how long they have been waiting to be paid. Maybe there is a better way.
Kofax KTM in conjunction with Oracle I/PM provides a solution to these two issues. Kofax provides two software packages to scan and then process documents like invoices. KTM is the processing part and is able to OCR and identify the key fields on an invoice no matter where on the page the data is located. KTM can also validate some of the data against the ERP system the company is running. Fields like PO Number, PO Release, Vendor Name, Vendor Address, Vendor Pay Site, Vendor Payment Terms and other fields can be read from the ERP system and added to the set of data held by KTM. KTM can then pass this data on to Oracle I/PM.
Oracle I/PM is an imaging and workflow software package. Not only does it store the invoice document with the index data entered through KTM, but it also has a workflow module that can track the invoice through the business process so the users can know where in the process the document is sitting. With I/PM workflow the invoice can be routed electronically to the assigned approver for invoice approval that is done on a Form built for workflow. If there are multiple levels that can be handled within the workflow in one of several ways depending on the information available from other systems such as the company ERP system. In addition, I/PM workflow scripts allow a programmer to write code to transfer the data directly into the ERP system through its data import tables. I/PM has been successfully integrated to pass data to JDE F0411Z1/F0911Z1 tables and Oracle EBS Open Interface tables to name just a few. These code scripts are re-usable so we can quickly get them working in your environment. Have we have found, not every company process their AP Invoices in the same manner, so each implementation we do is slightly different than any other, so we need to discover the differences and then modify the form and script code to match.
We at ImageSource can provide the expertise and experience to quickly get an imaging and workflow process into place in your company. Just contact us at http://www.imagesourceinc.com to find out how.