With an integrated AP automation app, Sage Intacct ERP accounting software users reduce supplier onboarding and accounts payable invoice processing to payments time by 80%. Streamline AP workflows, including electronic purchase order and receiving report matching and RPA. Reduce payroll expenses. Cut business costs with best spend management software features. When you automate accounts payable, improve internal controls. Reduce fraud.
What is the Sage Intacct ERP Accounting System?
Sage Intacct is an accounting system targeting fast-growing companies that can scale up their accounting software as their revenue grows. The product is designed for small businesses (with up to 500 employees) and medium-size business users. Sage Intacct users are single entity businesses. And Sage Intacct users are multi-entity businesses requiring consolidations of financial statements. Sage Intacct’s competitors include QuickBooks Online and NetSuite.
The AICPA, which is the professional trade organization for licensed CPAs, recommends using Sage Intacct as your ERP accounting system. Sage Intacct is the AICPA’s only preferred financial management solution.
Why Should Financial Management Choose an AP Automation Solution?
With any standard manual accounts payable ERP system software module, your finance team may experience:
• many frustrations,
• longer accounts payable process cycles,
• manual payment processes that aren’t personalized to customer needs,
• paper invoices, purchase orders and receiving reports
• manual data entry inaccuracies,
• inadequate real-time vendor and invoicing verification leading to potential fraud,
• missing supplier W-9 tax forms,
• and approver delays.
Sage Intacct accounts payable software is missing some essential features that AP automation provides. Sage Intacct lets you buy an AP automation solution with seamless integration through the Sage Intacct Marketplace. The add-in app uses an Intacct API connection between Sage Intacct and Tipalti. That gives you the look and experience of working in Sage Intacct even when you’re using value-adding Tipalti features. You use the Sage Intacct login. You can get the add-in AP automation software with a SaaS subscription pricing plan to spread out your cash outflows over time. With the right Sage AP automation app, you’re good to go streamline the AP process, saving time and money.
How does an 80% reduction in accounts payable workload translate to savings in processing an accounts payable invoice?
According to a CFO Magazine article, Accounts Payable Cost is the “total cost of processing accounts payable per invoice.” In February 2018, the top-ranked 25% of organizations surveyed by APQC (American Productivity & Quality Center) had an AP invoice processing cost of $2.07 or less. This benchmark metric was $5.83 for median performers and $10.00 or more for the bottom performers. The CFO article cautions that Accounts Payable Cost varies depending on industry and other factors.
Successful AP automation provides very significant cost savings.
How do I get the best AP automation software for Sage Intacct?
The Sage AP automation app that reduces your workload by 80% is available at the Sage Intacct Marketplace. It’s Tipalti accounts payable automation software. The Tipalti automated payable solution lets you avoid the problems that a standard ERP system presents to your finance teams. It’s seamlessly integrated cloud based software, allowing you to work remotely or from your office anytime using Sage Intacct. Tipalti offers the only end-to-end automated payable solution. It’s designed for both small companies and global, multi-subsidiary AP automation.
Tipalti starts the purchase to pay cycle with self-service supplier onboarding through a portal screen that’s either matches your business branding and logo or uses the Sage Intacct user interface. Suppliers enter their contact information, submit W-9 or other tax forms depending on the international country location, and upload invoices. Tipalti offers real-time supplier tax verification using a KPMG system that verifies the taxpayer identification number (TIN). The AP workflow process of supplier tax filing preparation and reporting is automatic.
Vendors choose how they want you to pay them through Tipalti AP automation for Sage Intacct. Their payment automation choices include US ACH, EFT, eChecks, paper checks, global ACH, wire transfers, credit card payments, or pre-paid debit cards in the preferred currency with cross border remittance. This supplier onboarding process shifts some of your organization’s accounts payable process time to vendors and increases information accuracy.
Tipalti automates the entire AP process, including approval workflows. Technology includes AI (artificial intelligence), ML (machine learning), and RPA (robotic process automation) for automating routine workflow tasks, using thousands of rules or algorithms.
Choose to efficiently pay large batches of invoices with one-click payment for increased productivity or individual invoices. Schedule the optimal payment time, taking early payment discounts when it makes sense and stretching days payable outstanding (DPO) to a reasonable level when it doesn’t. Remember to treat your suppliers fairly while optimizing your cash flow.
Tipalti provides automatic real-time payment reconciliation and AP reporting that:
- provides more visibility for cash management sooner,
- improves financial statement accuracy,
- helps you close the books earlier monthly basis and at year-end,
- and gives the finance team more time for financial planning & analysis (FP&A), strategy, and decision support.
Tipalti excels at supplier management. That’s important to your supply chain. In the Supplier Hub, vendors have complete visibility of invoices, payment statuses, and any problems that could delay payment. The online cloud Supplier Hub is available anytime, 24/7. Tipalti sends out instant electronic supplier payment status communications, essential to the vendors. And, these features reduce or eliminate the excessive time your accounts payable staff would spend on endless phone calls from vendor inquiries about invoice payment date. Those calls not only take time. They can also unfavorably impact your finance staff’s motivation if suppliers are stressed about their cash flow and angry about delays.
Tipalti for Sage Intacct automation offers an audit trail. Automatic processes improve internal controls, help you avoid fraud, and save your company money. Your cash is preserved or used for projects with a higher ROI. You have fewer budget variances from actual amounts. You’re better able to identify duplicate vendor invoices, which are common, automatically. Tipalti helps you prevent paying fraudulent vendors and scams that ask for payment without the shipment of goods. Tipalti’s invoice processing and payment cost calculator shows that choosing Tipalti for Sage Intacct AP automation could pay for itself. Visit the Sage Intacct Marketplace and Tipalti.com to continue your software evaluation of integrated SaaS accounts payable automation software.