10th March 2022
“Work efficiency is the ability to get the most output from the least possible input. It means doing more with less. Working smarter, not harder. When you improve efficiency, you’re able to get a larger output from the same amount of input – or even less. For employees, this means being able to get more done in a finite amount of time: the workday.”Tony Robbins
“Work efficiency is the ability to get the most output from the least possible input. It means doing more with less. Working smarter, not harder. When you improve efficiency, you’re able to get a larger output from the same amount of input – or even less. For employees, this means being able to get more done in a finite amount of time: the workday.”
Life rarely seems to stand still at Merlin as a result, and this is evident in our 2022 launch of a new and exciting solution for our customers called Automated Accounts Payable or AAP for short.
Regardless of the industry that the company works in, practically all accounting departments work the same when it comes to handing supplier invoices.
Things don’t seem to have changed much for years, if not decades, in terms of the manual input of bills. But what if that was all to change? Overnight?
Remember when we used to do laundry by hand? Remember when we had to get up out of our seat to change the TV channel? Those things were very much the norm for a long time before technology superseded and improved them.
So why do so many companies still post their supplier invoices by hand?
Well, Merlin’s AAP solution does just that. Having simply trained the system to recognise each supplier’s invoice layout, AAP decodes the information in to data electronically, and presents it to the ledger. It even flags up anomalies for your attention, perhaps where the invoice value doesn’t match the original purchase order that you placed with the supplier. However, these instances now very much become the exception rather than the rule.
AAP caters for invoices that are sent by suppliers electronically, so those received by email as PDFs are generally the norm, though it will cater for a number of different image formats. As for those invoices that still arrive in the post, they can be quickly digitised by practically any low-cost document scanner or multi-function photo-copier/scanner devices that grace most accounts offices these days.
Past experience of integrating Merlin with other third-party AAP solutions, suggest that the whole process can be improved by upwards of 80%-90%, where the remaining invoices need some form of manual intervention, so we know the potential positive impact that this technology offers our customers.
Click here for more information on our Automated Accounts Payable (AAP) module.
Article written by Ashley Jones
Sales & Markting
16 May, 2022
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