Roseland, New Jersey (PRESS RELEASE – November 15, 2010) – ADP, a leading provider of HR, payroll and benefits administration services, today announced the release of its Invoice-Professional Edition PLUS, a complete scanning and indexing service that can manage all of an organization’s paper-based invoices. The ADP Invoice-Professional Edition PLUS service helps to eliminate the burden of manual invoice processing faced by many organizations. Within 24 hours of receiving a paper invoice, an image of the invoice and all supporting documents are available as a fully indexed package. Managed within ADP’s hosted invoice processing platform, this solution reduces the need to invest in infrastructure and additional resources. With this new solution, ADP is helping clients streamline the accounts payable process, pay invoices promptly and manage capital more effectively.
Paper invoicing is a labor-intensive process and prone to errors, which can result in high processing costs and missed early-payment discounts. With Invoice-Professional Edition PLUS, an organization can reduce its invoice processing costs by up to 83 percent, reduce processing time by up to 80 percent, capture more favorable terms and improve overall financial controls. ADP’s Procure-to-Pay platform also allows businesses to on-board some or all of their suppliers online and see the status of the invoices through the Invoice Supplier Portal, eliminating calls into accounts payable regarding the status of payment.
“Many CFOs struggle to understand how many invoices are being processed in a given day, and ADP Invoice-Professional Edition PLUS gives finance executives complete visibility into their organization’s expenses while also saving the company time and money by not having to scan and enter every invoice,” said Leon Busch, Vice President and General Manager of ADP’s Procure-to-Pay Solutions. “This SaaS solution, with its start-of-the-art cloud-computing technology, saves clients valuable capital that could be spent on IT infrastructure and support costs.”
“Lack of visibility, lack of standardization and wayward paper processes equate to poor on-time payment track records. Not paying on time, of course, leads to irate vendors but also means that these companies miss discounts and accounts payable employees are left scrambling for status on invoices instead of focusing on more cost-effective work,” stated the independent research report “Taming Invoice Processing: Still Work To Do,” Forrester Research Inc., February 23, 2010.
ADP has taken electronic invoicing to the next level by:
- Integrating a scanning/invoicing service that eliminates the need for manual scanning
- Automatically pushing the data through the account coding and approval processes to the ERP system
- Saving the organization time, reducing costs and increasing operational efficiency
The ADP invoice solution is also available as an enterprise edition, which expands the capabilities of ADP Invoice-Professional Edition PLUS to offer line-item review and adjudication of electronic invoices, the ability to track electronic receipts, early-payment discounts and real-time spending, and purchase-order integration.
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9 billion in revenues and about 550,000 clients, is one of the world’s largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP’s easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world.