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For better compliance, Canon Malaysia introduces Accounts Payable solution

AvantiKumar | Aug. 11, 2016
The Accounts Payable Processing Solution also aims at delivering higher productivity and better compliance controls, said Canon's Alvin Lee.

Alvin Lee, Canon Marketing Malaysia 

Photo - Alvin Lee, Head of Business Imaging Solution Division, Canon Marketing (Malaysia) Sdn. Bhd

 

Digital imaging and printing solutions provider Canon Marketing Malaysia has introduced a solution  to help businesses achieve better compliance controls as well as enhance productivity.

 "Invoice processing is an essential business operation but manual processes such as data entry and paper handling are not only time-consuming but also prone to inaccuracies, which gives cause for inefficiencies," said Canon Marketing Malaysia's head of business imaging solutions division, Alvin Lee.
 
Lee said the solution - Accounts Payable Processing Solution - will help businesses deliver enhanced invoice processing performance through automation.

He said that as a critical accounting function, "a robust process of invoice processing has been proven to yield higher work productivity, improved time savings from processing and enhanced accuracy of documentation for compliance controls."
 
 "The Canon Accounts Payable Processing solution allows significant time and cost savings by automating the invoicing process to enable the divestment of time to focus on the core business," said Lee.
 
 IRIS technology
 
Using IRIS technology, Lee said the solution will offer an advanced suite of data capture tools that will scan and extract key information from documents in a variety of formats to connect and integrate with the back office in real time.
 
He said essential information such as purchase order number, account code, supplier information can be extracted for automated validation, which will cut time normally used in manual data entry.

Upon validation of information, the invoices will be automatically matched to corresponding purchase orders and delivery notes. Thereafter, the invoice will be sent to the approver for authorisation. After the invoice has been authorised for payment, it will be securely archived into the database for easy retrieval
 
 A Canon statement said benefits include:
- Reducing manual data entry time
- Enhanced audit trail
- Customisation of workflows to business needs (e.g. approval processes)
- Increased visibility of un-posted invoices
- Successful linkage with back-end systems (e.g. SAP ERP)
- Reduction of paper in the office
- Easier sharing via e-documents on a centralised system

The Canon Accounts Payable Processing Solution is now available from Canon through direct sales.

 

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