Accounts Payable Automation Solution - Straight Through Processing

ASPEN 360 Accounts Payable Enterprise Edition matches invoices automatically and passes the data directly to your ERP system without AP processor intervention. Invoice details are matched to line item PO and Receipt data details. ASPEN 360 auto matches the invoice, then completes the transaction using Straight Through Processing when exact matches, or matches within predefined tolerances, are met. This significantly reduces the number of invoices AP processors need to work and enables AP departments to handle increasing volumes without adding people.

Sample of ASPEN 360 Accounts Payable Enterprise Edition's Straight Through Processing Line Item Matching

Exception Processing

If an invoice fails, ASPEN 360 monitors new receipt data and continues to attempt to complete Straight Through Processing. But even when invoices require exception processing, ASPEN 360 simplifies the process. It incorporates automated exception handling support, analyzing all open receipts to narrow down receipt lines to be matched. The ASPEN 360 exception process takes over when no match is found. ASPEN 360 will analyze invoice data to determine the possible receipt records that could match. This dramatically reduces the time that an AP processor would spend trying to find matching receipts. Potential matches are identified and ranked based on the confidence level criteria selected.

As part of the exception matching process, ASPEN 360 will assign pre-determined confidence levels for the AP processor to review. The confidence levels help the AP processor quickly narrow down potential matches. For example, if quantity, unit price, and item code are the three fields required to be matched for Straight Through Processing, an exact match on quantity, unit price and item code would display a 100% confidence level. In contrast, an exact match on quantity and item code only with the unit price off by a few cents would result in a lower confidence level. This is configurable for each matching scenario.