Keywords: Palette, BancTec, purchase to pay, procure to pay, automated invoice processing, account payable, purchase-to-pay suite

Massachusetts Eye and Ear Infirmary benefits from automated invoice processing with Palette

Sarah Feurey | News | 17 September 2012

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Massachusetts Eye and Ear Infirmary is using BancTec’s AP Master, a comprehensive, automated web-based SaaS AP solution powered by PaletteArena, the complete enterprise purchase-to-pay suite, to streamline its financial management and improve efficiencies.

The decision to deploy automated invoice processing was made to improve the efficiency of the Massachusetts Eye and Ear accounts payable process, by minimising manual paper-based administrative tasks and reducing total turn-round time for paying vendors.

Massachusetts Eye and Ear selected AP Master due to its high level of functionality, and because it provided staff with greater transparency of the overall approval process through its ability to route the status of an invoice or payment across the system for electronic approval.

Cristin Monaco Shields, Senior Project Manager at Massachusetts Eye and Ear, reports’ “Since deploying the solution, our reporting capabilities have improved ten-fold. The electronic approval process allows us to track the status of an invoice or payment across the system within 24 hours of receiving it.  We can now schedule payments automatically and have reduced total turn-around times by 20%, which is enabling us to adhere to vendor contract times”