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Accounts payable constitutes a crucial segment of the accounting framework for an organization as a source of its financial and operational intelligence. With the onset of automation in this domain, accounts payable saw a new light through automation significantly transforming the task of invoice processing. While eliminating various clogs from within the manual invoice processing, such as constant staff intervention and increased consumption of time, automation of accounts payable accounts as a supplementing agent for operational efficiency and visibility within an organization.
Enabling the best of this business advantage to new age organizations is Nivo1’s AP Express. Apart from being cost-effective software, AP Express brings exponential value for its clients in terms of both time-to-market and quick returns on investments. With interfaces built to provide real-time, native integration with today’s leading ERP systems including Oracle E-Business Suite, PeopleSoft, JD Edwards, and Dynamics AX, AP Express reduces data-entry errors, improves invoice processing speed, and helps direct employee attention towards other critical concerns. Headquartered in Pittsburgh, PA, Nivo1 created AP Express as a low-cost, cloud-based Accounts Payable Automation solution through its combined experience of over 50 years in enterprise business applications and Accounts Payable. The company has significant expertise in the dynamics of ERP systems integration and accounts payable processes leading to the conception of a robust AP Express. David Busch, CEO of Nivo1, says, “The key factor that allows us to implement faster is our focus on our integration with the ERP systems.
A lot of companies in our space integrate with ERP systems through generic flat file or file-based integration. We do it by real-time integration
A lot of companies in our space integrate with ERP systems through a generic flat file or file-based integration; we, on the other hand, have invested heavily in developing real-time integration with specific ERPs.”
AP Express is a cloud-based solution and, as the platform is readily equipped with an intuitive and easily accessible user-interface, it saves considerable amounts of time and money when it comes to training and installation. The platform consists of a robust OCR engine for data capture that helps reduce data entry errors. It provides a three-way matching of invoices to purchase orders as well as receipts as a part of Nivo1’s master data integration. AP Express extracts permanent information from ERP platforms about suppliers, purchase orders, and vendor information and matches the data. Additionally, the platform also provides a fully searchable and centralized archive for storing the history of all the processed invoices and images in the cloud, making information readily accessible from any location. With pre-built KPIs within its analytics engine, Nivo1 further enables its users to access and analyze the performance of their AP operations.
Nivo1 is extremely responsive to their client’s enhancement requests. A significant part of the company’s product development is driven by soliciting client feedback on ways to improve functionality of AP Express. Additionally, Nivo1 incorporates suitable functionalities of each ERP-specific version to AP Express across the board to increase benefits of the product. “The original thinking when we started developing AP Express is that we adapt our product to our clients’ ERP system rather than forcing our clients to adapt to AP Express. This makes AP Express much more intuitive allowing our customers to become more productive with our product,” adds Busch.
Advancing further on its journey, Nivo1 plans to build a supplier portal, which will enable suppliers to submit invoices and check the status of payment. This will help improve the relationship between AP Express customers and their suppliers. Additionally, they plan to build an expense reimbursement module. Currently, Nivo1 is focused on building interfaces for new ERPs and is expanding its domain expertise to integrate with university ERPs pushing its prospects to focus on higher education.