Accelerate Packing Slip Receipt Processing for AP

Procurement is a process that involves many moving parts in every industry. When goods arrive at your business or a warehouse location, a packing slip receipt shows the contents of the shipment and other important information. These documents are a valuable source of data for many processes, such as matching the slip to the appropriate purchase order to confirm that the shipment and order match. Delivering the information from packing slips into your ERP platform of choice is a process that should take place quickly and easily. However, that’s not always the case in many businesses today.

The result is a workflow fraught with problems rather than value. Your organization can accelerate this process with solutions built upon the Tungsten TotalAgility intelligent automation platform, enhancing the data quality. Let’s explore why a better approach is necessary and see how the TranscendPS solution from the Marketplace delivers on that approach.

Pain Points in Manual Receipt Processing

When a company only receives a few shipments occasionally, staying in control of the paperwork is trivial. However, at scale, numerous issues present themselves, such as:

• Orders split over multiple shipments or back ordered are more difficult to identify.
• The process of manually recording data into an ERP is often slow.
• Typists may introduce errors into data that complicate downstream workflows, such as matching.
• It’s time-consuming to reconcile receipts against purchase orders manually.
• Slow-moving processes lengthen the time required to process refunds or exchanges for items damaged in transit.

The TranscendPS solution addresses these concerns to deliver a smarter, faster, more reliable outcome.

Exploring the TranscendPS Solution

TranscendPS is an advanced solution that leverages TotalAgility to support automating steps in the receipt processing workflow. It begins at the data ingestion stage, whether scanned into the system directly or via email attachments in PDF, Excel, or Word. Data extraction occurs automatically and aligns with the different formats used by vendors.

After extraction, data validation occurs, and users can review a helpful queue for final confirmation of the extracted information. Users may leave comments with specific information or special notes about any receipt. After approval, TranscendPS simplifies posting the information to your ERP. From there, additional work, such as PO matching, can occur.

The Advantages of Deploying TranscendPS

The reduction in manual work and the subsequent acceleration of data extraction and ERP updates are the clearest benefits TranscendPS delivers. Over time, though, this solution becomes even more efficient as machine learning adapts to the packing slips supplied by different vendors. Organizations also gain real-time visibility into the current status of receipts that require processing and those already transported to the ERP. Faster processing also translates into faster resolutions for disputes or shipment issues, such as lost or damaged items.

Bring Automation to More Workflows with Marketplace Solutions

Faster packing slip processing translates into enhanced real-time visibility of what’s happening across your organization. Data populated rapidly into your ERP can support additional workflows, such as three-way matching in accounts payable, which improves the overall efficiency of the organization. Information about shipment problems, such as damaged items, reaches the appropriate teams for timely resolutions.

With TotalAgility and solutions from our Platinum Partner TranscendAP, you can turn every packing slip receipt into accurate, actionable data faster than ever. This solution and other Marketplace options can facilitate a digital transformation that delivers a strong ROI on a shorter timeline with long-lasting positive effects. Learn more about this solution today and dig deeper into the Marketplace for other exciting innovations.