Optimize Accounts Payable Performance with Advanced Analytics Solutions
Add Cevinio's advanced accounts payable analytics and leverage the power of data insights. There would be no secrets for you to improve the effectiveness of your AP structure. Based on data, you will be able to draw better conclusions, and consequently take informed actions to improve the accounts payable productivity and process. Data Analytics is equal to better decisions and continuous improvement.
Cevinio advanced accounts payable analytics
At Cevinio, we are committed to helping our clients achieve their AP goals today and tomorrow. For that reason, we have introduced advanced analytics into our solution portfolio. Cevinio advanced accounts payable analytics works in combination with Cevinio's invoice automation solution.
While we include some basic dashboards as part of our standard invoice automation platform, we have a complete catalog to support your invoice processing.
Gain control and visibility
Identify inefficiencies, fraud, bottlenecks and misuse of the system or process so you can plan actions to optimize the invoice process and increase productivity.
Improve supplier management
Monitor supplier performance to proactively resolve issues, avoid disputes and as a result save processing time and costs. These actions will enhance your relationship with vendors.
Make informed decisions based on real-time and valuable data collected and presented by Cevinio. Cost optimization and overall processing advancement are some of the benefits.
Accounts Payable Analytics: unleash the Power of Data-Driven Insights
Insights into productivity
provide information about the volume of invoices processed by AP agents/teams and approvers (depending on local legislation). They help to evaluate workload, get insights in the efficiency of the invoice processing, and reveal the way AP agents use the system.
Goal: identify how teams can work as efficiently as possible by identifying work distribution, working schedule or patterns, possible misuse of the process or system by AP agents, and complexity level of the invoices from different vendors. Also, to forecast based on workload over time.
Insights into accuracy
provide details on the efficiency of the Cevinio automation tools. These dashboards help to identify problems, understand root causes of the issues and build improvement strategies to keep the automation of the invoice processing at the highest possible level.
Goal: improve the accuracy levels by building an optimization strategy by identifying and zooming into problematic attributes, vendors and locations with a high number of errors. Later, once you identify the root cause and take proper actions, you will be able to measure the impact of the applied corrective actions.
Insights into the invoice approval workflow
show details about the invoice processing via the Cevinio Approval Workflow. Evaluate the efficiency of the approval process, find invoices that got stuck in the Approval Workflow and average time each responsible group review the invoices.
Goal: identify where the opportunities are to further improve the efficiency of the invoice approval process.