Alvin Lee, Canon Marketing Malaysia

Canon Introduces Accounts Payable Processing Solution aims at delivering higher productivity and better compliance controls

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Scalable to the needs of the business and easily integrated into existing systems, Accounts Payable Processing solution offers systemic automation of swift invoice processing from document capture to information validation

image001Canon Malaysia today launched the Accounts Payable Processing Solution from IRIS to help businesses deliver enhanced invoice processing performance through automation. As a critical accounting function, a robust process of invoice processing has been proven to yield higher work productivity, improved time savings[1] from processing and enhanced accuracy of documentation for compliance controls.

“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 Alvin Lee, Head of Business Imaging Solution Division, Canon Marketing (Malaysia) Sdn. Bhd. “The Canon Accounts Payable Processing solution enables significant time and cost savings by automating the invoicing process to enable the divestment of time to focus on the core business.”

Invoicing made seamless

Through IRIS technology, Canon offers an advanced suite of data capture tools that scans and extracts key information from documents in a variety of formats to connect and integrate with the back office in real time.

For example, essential information such as purchase order number, account code, supplier information are extracted for automated validation, which saves the user the time from the tedious process of manual data entry. Should there be errors or missing information, the user is automatically flagged for the user’s further verification.

Upon validation of information, the invoices are automatically matched to corresponding purchase orders and delivery notes. Thereafter, the invoice will be sent to the approver for authorization. After the invoice has been authorized for payment, it is securely archived into the database for easy retrieval

Significant efficiencies achieved with transparency and accuracy

The Accounts Payable Processing Solution enables resources to be leveraged more effectively so teams can work with greater efficiency and focus on higher value work for the business.

Automating the invoice process enhances the compliance framework of the business and mitigate risks. Business owners are assured that the data is securely archived and in a situation where there is a need for audit or an invoice query, the digital document is swiftly retrieved for tracing information relating to the visible flow of approvals.

Key benefits of the solution include:

  • Minimization of manual data entry for higher work productivity
  • Enhanced audit trail
  • Customization 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 centralized system

Availability

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

Enhance the performance of your invoice processing – CLICK HERE to view Canon-BIS Infographic

About Canon Marketing (Malaysia) Sdn Bhd

Canon Marketing (Malaysia) Sdn. Bhd is a leading provider of cutting edge imaging and information technology solutions for the home and office environments. Established since 1987, Canon employs close to 700 staff who deliver products and service support to Malaysian users directly and through its nationwide network of channel partners. Its parent company, Canon Inc., a Fortune 500 Global company, is dedicated to the advancement in technology and innovation and commits 10% of its total revenue each year to R&D. Canon’s operations globally is guided by its Kyosei philosophy, which focuses on living and working together for the common good. For more information please visit www.canon.com.my.

[1]According to a study by Aberdeen Group in April 2012, organisations that automate the account payables process can reduce more than 80% off the cost of processing and decrease the processing time to less than 5 days.[/vc_column_text][/vc_column][/vc_row]




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