We make it easy by doing it all for you.

Capture & Match

Receive electronic and printed invoices, scan them, OCR the text, and store them. From the OCR and XML data, we match them against internal databases to determine which are valid, which are duplicates, which have pay discounts, which have already been paid, etc.

Document Preparation

CTP performs all physical document preparation required to process documents received at our facilities. Cost-efficient preparation services include opening mail, making documents scanner-ready and sorting documents by type.

Document Scanning

Our staff scans documents in batches to maximize through-put of the scanner technology, and we deploy electronic processes wherever possible to minimize your cost. We assign all documents a unique document control number (DCN) used for tracking throughout the process. Our sophisticated scanning capabilities assure that both sides of paper are captured and that pages are not missed in the scanning process. We automatically delete blank pages and barcode separators to ensure cost control for our clients.

Data Capture/Optical Character Recognition (OCR)

We use a two pass process for data capture, combined with a separate verification step which dramatically reduces the ‘false positives’ that an OCR – only approach provides. Data capture uses a combination of OCR technology and keying correction that integrates validation files, such as the vendor master file and PO files, to improve  the validation process during the capture process.

Accounts Payable Match

Reduce the costs of AP processing by up to 40%.

The incoming mail is picked up at a dedicated post office box, opened, sorted, scanned and proceed through a series of quality control measures. The invoices are then transmitted electronically where our team keys in the invoice header data and performs the 3-way match to the PO and receipt records. Invoices that match perfectly are fed into the accounting system and paid without any human intervention. Invoices that have exceptions are flagged, and depending upon the nature of the exception, routed for dispute resolution. You can even route matched invoices to appropriate people for approval.

Approvals

For those documents which have exceptions, require approval routing or G/L coding, an AP Workflow application is available. This software is provided to customers on a per transaction cost basis, so there are no user license fees, maintenance costs or capital investment required. Workflow items travel to individual roles according to a predetermined route that is controlled by business rules at each point in the route. Routing is changed based upon conditions described in the business rules.   Approvals on workflow items can be done with the AP workflow application directly or by an email response. Approved invoices are paid automatically. Comprehensive supported payment methods, from ACH to mail.

Optimization for Accounts Payable: