DocXAP

Visibility and Control to Effectively Manage Your Entire Process

Is your Accounts Payable department, like many others today, struggling with inefficiencies and reduced visibility into company finances? Does a complicated process keep you from automating? Virtual Data Partners DocXAP helps to solve these problems and more, giving you critical visibility and control over the entire invoice handling process. Our world-class solutions not only deliver increased savings, efficiency and compliance, but also help you better manage cash flow, spend and working capital.

How does VDP do it? Years of customer best practices are built into our solution, along with the industry’s most paradigm shifting technology, and a culture of innovation. Virtual Data Partners offers optimized solutions that meet the needs of companies of all sizes — no matter how complex or straight-forward your environment — and gives you the agility to run your business more effectively.

DocXAP combines our two world-class services – DocXtraction and DocXchange – to provide you an accounts payable solution that…

Saves you time,
Saves you money,
Is customized to suit your exact business needs,
Integrates with virtually any ERP or line of business application,
Is 100% Cloud-based – no software to install, or hardware to maintain,
and more!

Fully Automated AP with No Boundaries

Whether you are a smaller, fast-growing business or a large multi-national, Virtual Data Partners can support you globally and locally. We make it easy to automate your Accounts Payable, and gain full visibility and control over your entire invoicing process. With a combination of our DocXtraction service and DocXchange, the ability to manage invoices, optimize payment timing, and ensure compliance with external regulations and internal policies — all while reducing costs and streamlining processes — are among the many benefits you will receive.

Since all our AP automation solutions are web-based, there are no barriers or boundaries. You can easily integrate systems and manage processes across countries, companies, languages, currencies and multiple ERP systems, as well as handle the wide range of tax requirements and government regulations.

Reduce Costs By Up To 75%

Remove the paper, eliminate errors, and save huge on processing costs.

Transform AP to a Profit Center

Maximize your working capital by enjoying early vendor discounts and spending less on manual processes.

Save and Repurpose Valuable Time

Free up your operational employees and accounting staff’s time with full automation.

Powerful Features and Benefits Every Step of the Way

Organizations traditionally have their own unique AP process. We provide all the following elements, and can customize additional features to meet your specific process and requirements.

Capturing Invoice Data

Our DocXtraction process can handle all your invoice formats – First generation PDFs, scanned images (TIF, JPG, PDF) of printed invoices, and even those pesky handwritten ones. Upon receipt, we will extract the required data elements you need to process the invoice, such as vendor name, invoice number, invoice date, due date, PO number, invoice total, and if required, all the line item data (descriptions, quantities, item amounts, and item totals).

Purchase Orders / PO Matching

If you have an existing PO in your ERP system, we’ve got you covered. We’ll match the invoice to the PO, highlight any discrepancies, then notify the employee who placed the order that goods and services have been satisfactorily received, or if their is an outstanding issue. The match process identifies any discrepancies to previously agreed-upon prices, quantities and other criteria that are important to you. Match rules are simple to configure and can accommodate a range of tolerances.

If you don’t currently utilize a PO module within your ERP system, not to worry. We can build you a complete purchase order system within our DocXchange platform.

Fully Customizable Workflow / AP Processing

Put all the proper steps and controls in place to ensure an invoice is valid, and has all the relevant supporting documentation. Route invoices based on rules to match your internal processes. Bring visibility to important exceptions, such as duplicate invoices, expired vendor insurance or contracts, specific vendor types, amount thresholds, board member approval, and more.

With our iOS and Android app, employees can be virtually anywhere and approve invoices. Mobile approval helps to drastically reduce invoice turnover times.

General Ledger Coding

The General Ledger (GL) is the backbone of any organization’s accounting system. With our advanced AP workflow within DocXchange, we help you solve a variety of nagging AP issues, such as…

Relying on non-accounting personnel for GL Coding support.
The extensive length of time to get the invoice to the right people responsible for GL Coding who spend additional time to properly apply established rules.
Manual GL Coding errors caused by: simple typing/writing errors (on the stamped invoice or during ERP entry); not following established rules; and/or, not having established rules.

Our invoice approval system provides you the capability to:

assign a GL code for the whole invoice;
assign a GL code on per-item basis;
assign a GL code for taxes/discounts.
or customize it based on your organizations requirements.

ERP / Accounting System Integration

We integrate with many popular ERP and accounting systems, as well as most proprietary solutions. As long as your system has the ability to import files, we will be able to integrate with it.

Some of the systems we integrate with:

AS400
Epicor
Microsoft Dynamics
Oracle SAP
QuickBooks Pro, Premier and Enterprise
Quickbooks Online
Sage
Yardi

Archive / Retrieval / Audit Trail

Most organizations undergo routine audits and are required to provide all the documentation pertaining to a certain vendors. With DocXchange, invoices are easily accessible and searchable in electronic form. A company’s finance department will be able to pull up all the invoices and contracts regarding a certain period of time, and full investigate the approval process for each. The documentation transparency significantly decreases the risk and number of concerns auditors outline in their report.

Simple, Straightforward Pricing

No major upfront capital investment. You upload, we process. We can integrate with virtually any document management or accounting system. You pay only a monthly fee for what is processed. Simple!

Summary Data

Tier 1

For organizations that GL code at the invoice level.

- Includes up to 8 fields for DocXtraction

- One DocXchange user provided for every 100 invoices processed monthly (minimum 500 invoices, 50+ users fees may apply)

- Unlimited Document Storage

- Setup and Integration Fees May Apply

Line Items

Tier 2

For organizations that are required to disburse and GL code at the line item level.

- Includes up to 12 fields for DocXtraction

- Invoices over 3 pages or 25 detail lines are subject to additional fees

- One DocXchange user provided for every 100 invoices processed monthly (minimum 500 invoices, 50+ users fees may apply)

- Unlimited Document Storage

- Setup and Integration Fees May Apply

Advanced/Utility Bills

Tier 3

For organizations that require robust and detailed data from their telephone, energy, gas, water, oil, and waste providers, in order to better track costs and consumption.

- Includes up to 17 fields for DocXtraction

- Collective-based bills incur charges for each sub-invoice created

- One DocXchange user provided for every 100 invoices processed monthly (minimum 500 invoices, 50+ users fees may apply)

- Unlimited Document Storage

- Setup and Integration Fees May Apply

For smaller organizations who want the benefit of OCR extraction and are capable of completing their own data verification, contact us about our Client-Verify option (includes all the same great features as our Summary Data and Line Item offerings).

Calculate Your Savings With DocXAP

Download Our Brochure To Learn More!