PNC's Invoice Automation uses leading-edge technology to help optimize your Accounts Payable (AP) operation, reduce invoice processing costs, eliminate manual tasks, increase invoice processing accuracy and improve supplier relationships.
Automated Invoice Processing
Is your organization overwhelmed with paper? Struggling with manual AP processes and data entry? Finding that invoices are harder than ever to track down? Are you missing out on supplier discounts? PNC's Invoice Automation can help you:
Increase straight-through processing
Create dynamic workflow management
Reduce invoice
cycle time
How PNC’s Invoice Automation Solution May Help Your Business
Eliminate paper and reduce invoice processing expenses: With centralized invoice receipt, PNC can accept any type of invoice (paper, email or EDI). Your invoice images will be data captured and loaded into PNC’s Invoice Automation system.
Configure workflow to your needs: No two companies are the same. Invoice Automation can make the transition to an automated invoice processing platform as seamless as possible. Our application enables two- and three-way purchase order matching, automated general ledger coding, development of company-specific workflows based on access privileges of users and their specific role in the company.
Real-time data at your fingertips: Invoice Automation offers a suite of real-time reports that allow invoices to be tracked by many data elements such as status, due date and vendor. Reports can be filtered, allowing you to drill down into the details of specific invoices. These reports can be exported for further analysis into spreadsheets.
Work with a dedicated team of specialists: PNC has a team of AP automation consultants who are procure-to-pay certified by the IOFM. They use their AP and treasury knowledge to help you determine the right solution for you. This collaborative approach helps you maximize efficiency while meeting your company’s specific business needs for AP optimization. An Invoice Automation consultant will be there every step of the way to identify the scope, confirm and execute the solution with you. He/she will oversee the entire implementation process while our AP Account Manager will provide post-implementation support.
What Our Clients Are Saying
The new system is incredibly helpful. I can find an invoice no matter where it is. I can run a simple report and make a call if necessary to get invoices approved and entered. We have not added to our staff, but we are processing at least twice as many invoices as before.
— Administrator for a fast-growing company in the energy sector
How PNC’s Automated Invoice Processing Works
1. Digitize: Convert multiple invoice formats into a streamlined data feed.
PNC’s Invoice Automation centralizes invoice receipt via the postal service, email and file. PNC’s ability to receive invoice documents in its lockbox environment combined with optional invoice delivery, accommodates the most common forms of invoice submission by suppliers. Invoice Automation converts multiple invoice formats into one, streamlined feed of data for buyers, receivers, and AP, which can help improve your processing efficiency.
2. Route: Configurable workflow is designed for electronic invoice approval.
PNC’s Invoice Automation automates general ledger coding and the invoice approval process. Invoices flow through your organization based on configurable designs and can be changed without IT involvement. Easy-to-use web-based and mobile interfaces enable visibility to outstanding work and the details for a specific transaction. Your account payables operation can be optimized by significantly reducing the 'paper handling' and the costs associated with managing a traditional paper dependent approval process.
3. Integrate: Establish secure two-way data exchange with your ERP.
PNC’s Invoice Automation establishes a secure two-way data exchange to connect your enterprise resource planning (ERP) system, keeping your accounting system at the center of the AP process as the system of record. It integrates with any ERP or accounting system that can send and receive files and can help streamline your invoice processing operation.
4. Discount: Leverage discount opportunities with strategic vendor relationships.
Improve working capital by never missing early discounts. Intelligent invoice routing enables you to automate and accelerate invoice approval so that you may never miss an early discount.
5. Execute: Access invoice and payment information online.
You may choose to pursue integrated payment in conjunction with an AP automation program significantly reducing paper invoices while outsourcing paper check runs. PNC’s supplier portal options take the relationship between the front end and back end of payables to the next level by bringing information about the invoice approval process and payment together through a status service. When the buyer/payer provides remittance detail in a status file, the supplier portal becomes a source of information to assist suppliers in their cash application process.
We are processing more invoices on a regular basis and have been able to absorb invoices from four other locations as we continue to grow.
— Accounting Manager for the Americas, EJ, a world leader in the design, manufacture and distribution of manhole covers and gratings
Contact Us
For product and service related questions, please contact your Treasury Management Officer or Treasury Management Client Care (TMCC) directly at 1-800-669-1518.
Learn More
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Important Legal Disclosures & Information
New product development is subject to change.
PNC is a registered mark of The PNC Financial Services Group, Inc.(“PNC”)
Bank deposit, treasury management and lending products and services, and investment and wealth management, and fiduciary services are provided by PNC Bank, National Association, a wholly-owned subsidiary of PNC and Member FDIC.
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