How does MakersHub remove all manual bill data entry?

You might have come across OCR or automated invoice reading features before. Usually, they pick up just a few pieces of data - or just the bill’s total amount. Well, MakersHub is in a league of its own. We’ve created a proprietary Smart Data Reader that allows us to capture and then contextualize every single piece of data on the incoming bill, this allows us to then streamline all aspects of accounts payable. MakersHub combines sophisticated ‘Deep’ OCR (optical character recognition), machine learning logic, and artificial intelligence.

How many data fields can be passed over to QuickBooks?

MakersHub captures 39 data fields in total - other leading AP solutions only capture 5 different data fields. On top of this, MakersHub means 100% accuracy.

Can I edit the data inputs before they’re passed over to QuickBooks?

Yes, while you shouldn’t need to, we know things can change. Every field is editable, we’re designed for flexibility and ease. You can also add in extra line items at any place in the bill preview (i.e. This is showing you what will be synced over to QuickBooks).

How much detail do you bring in from a bill’s line items?

MakersHub can capture every part of the line item detail. We can even separate out SKU and Item numbers when they were lumped into a description column. Line Items data fields we capture (that can be synced to QuickBooks): SKU, Description, Quantity, Unit, Price, Total, Ordered, Shipped, PO number, Invoice number and more. Other leading AP solutions can’t capture this amount of line item detail.

What accounting systems do you integrate with?

MakersHub currently integrates with QuickBooks desktop and QuickBooks online (but let us know if you’re on another accounting platform).

Does MakersHub do payment processing too?

Yes! MakersHub is an end-to-end AP solution. We can process payments for you by ACH transfer, Check, or Wire transfer. Unlike other AP solutions, our (ACH) payments are processed immediately and cleared the next day. You can also get notified when there’s an early-pay discount to be taken advantage of.

What is an automated accounts payable software?

Automated accounts payable software, also known as AP automation software, is a comprehensive automation solution that streamlines and automates the accounts payable process. It helps eliminate manual tasks associated with invoice processing, including data entry, payments authorization and approval workflows. By leveraging e-invoicing and automation technology, it can capture, index and route invoices quickly while ensuring matching, accuracy and compliance.

AP automation - The right tool to automate accounts payable

Automated accounts payable software provides a powerful solution for businesses looking to streamline their AP process while eliminating manual tasks and reducing costs associated with invoice processing. With its enhanced security features and improved efficiency of the entire payment cycle, an automation solution can help businesses save time and money while gaining greater accuracy in their financial reports.
AP automation solutions offer a variety of benefits for organizations looking to improve their accounts payable processes. These solutions can help reduce costs associated with vendor payments by automating invoice processing and ensuring that all invoices are accurately paid on time. Additionally, they allow users to easily track vendor payment statuses and set up rules-based workflows in order to approve invoices quickly and efficiently.

Discover how MakersHub can help you automate accounts payable and bills

What are automation technologies used for bills automation?

Automation in accounts payable (AP) is becoming increasingly important to maintain smooth operations and process PDF and paper invoices. Businesses of all sizes are turning to automation technologies to streamline processes, reduce errors in reports, reduce processing costs, improve compliance, and stay ahead of the competition.

The automation technologies used in accounts payable, particularly for bills automation, are OCR and RPA.

1. Optical Character Recognition (OCR)

The first technology that is used for AP automation is optical character recognition (OCR). OCR allows anyone to capture invoice data from paper documents or PDF and convert it into an electronic format that is readable by machines. However OCR alone is not very reliable. OCR makes the storage and processing of invoices without manual entry from paper supplier invoices, which saves time and reduces error rates. Additionally, OCR helps with compliance by ensuring accurate tax reporting and invoice payments.

2. Robotic Process Automation (RPA)

Another technology used in AP automation is robotic process automation (RPA). RPA automates repetitive tasks in order to increase efficiency and accuracy in the approval workflow, including activities such as:
Validating invoices against purchase orders. Routing invoices for approval. Generating payment files. Matching payments with vendors.
And more! By automating these processes, businesses can save time while also reducing human errors associated with manual processing.

What are the benefits of AP automation solutions for businesses?

Automated Accounts Payable (AP) solutions offer a variety of benefits to businesses, from real-time invoice processing to cost savings. The MakersHub solution can be deployed with all QuickBooks accounting systems, making it easy for businesses of all sizes to take advantage of the efficiencies offered by our AP automation software.

1. Integrate and process all billing data automatically

One of the major benefits of our AP automation solution for Quickbooks is the ability to process incoming invoices and supplier bills electronically in real-time. This eliminates manual data entry, reduces errors, mitigates the risk of late payments and improves accuracy. Additionally, electronic invoices can be easily tracked and approved quickly with automated workflows, streamlining the process and improving cash flow.

2. Reduce your labor costs by eliminating time-consuming tasks

The cost savings associated with AP automation solutions are significant; automating processes can help reduce labor costs associated with manual processing and increase efficiency throughout the organization. Instead of manually tracking progress of the entire invoice process, users can get a complete view of their accounts payable status at any given time. This allows them to quickly identify any issues or bottlenecks in the approval process and act accordingly.

3. Avoid costly mistakes and duplicate payments caused by manual data entry

AP automation reduces the risk of duplicate invoices or bills being processed as well as fraud or errors that can occur in manual processes. MakersHub allows companies to have full visibility into their accounts payable process, by providing real-time analytics on spending trends and invoice management. Additionally, these solutions offer enhanced security features such as multi-factor authentication, granular access control, and audit trails.
This is essential not just for efficiency but also for compliance purposes. Automated AP solutions help ensure that all transactions adhere to regulatory requirements. They can also help detect any potential fraud or discrepancies in data entry quickly and accurately. All these benefits make automated AP software an essential tool for modern businesses looking to streamline their financial operations.

All of these factors combined make our automated payable automation solutions an ideal choice for businesses seeking to maximize their bottom line, improve their approval process and their accounts payable process through automation.

How does MakersHub accounts payable automation software work?

Accounts payable automation software provides a number of advantages to accounting teams and finance departments. This type of software automates the process of invoicing, enabling businesses to streamline their accounts payable department. By using AP automation softwares, businesses can decrease the amount of human intervention typically required in the invoice process.
This type of software offers valuable features such as automated invoice processing, intelligent data capture, and improved visibility into spending. It can provide an efficient solution for the approval processes and for managing accounts payable transactions, allowing businesses to focus on their core competencies while reducing costs and improving accuracy. Additionally, it helps companies maintain compliance with regulatory requirements and improve cash flow management by providing transparent insights into financial operations.
With AP automation softwares, accounting teams can quickly identify discrepancies between invoices and purchase orders, automate tedious manual data entry tasks, and ensure timely payments to vendors. These solutions enable businesses to access real-time reporting capabilities that help them make informed decisions about invoice approval processes, vendor payment terms, and other accounts payable activities. Ultimately, this technology can create significant savings in time and cost for finance teams while optimizing operational efficiency.

What are factors to consider when choosing an automated AP processing software?

Choosing the right automated accounts payable processing software to improve your billing processes can be difficult. It is essential to make sure that the software you choose meets all of your needs and is compatible with existing systems. Here are the key factors to consider when selecting automated AP processing software.

What are your needs when it comes to bill automation?

It's important to think about the features offered by the software. Does it offer everything you need? Consider things like invoice scanning capabilities, payment automation, reporting functionality, and more.

Is the AP automation tool compatible with your operations?

You should also make sure that the software you choose is compatible with any existing systems you may have in place. MakersHub software is made to integrate seamlessly with Quickbooks, making it the ideal choice for businesses using this accounting software.

What is the learning curve of the new AP platform?

It is always worth considering how user-friendly a new system is: a straightforward and intuitive automated AP processing software will save you a lot of time and training and mitigate the risk of costly mistakes or delays in payments.

Investing in training and support services can help ensure that everyone on your team knows how to use the AP automation system properly. MakersHub can help you with this!

What is the cost of an AP automation software?

When it comes to accounts payable automation, understanding the cost of the software is a key factor in making any purchasing decision. In addition to upfront costs, there are also ongoing maintenance costs and additional training costs that need to be taken into account.
The cost of MakersHub AP automation software will vary depending on the features you require and any other customizations you may need. There could be integration costs associated with connecting your existing Quickbooks platform to the new software. It's also worth noting that while our AP automation solution includes expenses upfront, it can ultimately save businesses money in the long run due to increased efficiency and reduced errors.

Schedule a meeting with our team about our AP automation solution!

Is MakersHub automated AP solution secure?

When it comes to AP automation, security is a major priority, and MakersHub takes the integrity of your data very seriously. Our automated accounts payable solution can store confidential financial data using proper security protocols.

Rely on trustworthy authentication measures

Our bill automation tool includes multi-factor authentication and encryption of sensitive data. It's also important that the system uses strong passwords and regularly updates them. Additionally, organizations should look for a system that offers access control features like user roles and permissions, which can help restrict who can access certain data within the system.

Benefit from data backup procedures

Automated AP systems should have robust backup protocols in place for both local and cloud-based backups. This helps ensure that if something does happen, there will be no loss of data or disruption of service due to system failure or malicious attacks.
Organizations must balance the convenience and efficiency of automated Accounts Payable solutions with the need for secure data storage and processing. By taking all necessary precautions, organizations can ensure that their data remains safe while still being able to reap the full benefits of an automated AP solution.

What is the integration process for our automated accounts payable software?

Integrating automated accounts payable software within an enterprise’s systems is an essential part of setting up a successful accounts payable process. It allows companies to get the most out of the automation technology available and streamline their processes for maximum efficiency.
The key to success is understanding how MakersHub AP automation fits into the wider context of your current operational ecosystem and how data flows between the two. The best way to do this is through detailed planning in advance, close collaboration with our team of experienced professionals who understand both technologies.
By taking the time to plan properly, business owners can ensure they maximize the benefits of AP automation while minimizing any potential disruption or cost incurred by incorrect implementation. With careful consideration and support, businesses can benefit significantly from MakersHub integrated automated accounts payable solution working in harmony within their existing Quickbooks platform.

What are the best practices when implementing an automated accounts payable tool?

Implementing an automated accounts payable solution can be a great way to streamline processes, reduce manual tasks, and increase accuracy in an organization. As with any technology, however, there are best practices that should be taken into account when deploying automated accounts payable solutions.
1. Make sure all stakeholders are on board and understand the value of the new solution. This involves communicating the anticipated return on investment (ROI) to key decision makers and outlining how it will improve existing processes.
2. Understand your current accounts payable workflow: knowing the individuals responsible for various tasks is necessary for successful implementation. Clear guidelines must be established about who is responsible for what tasks throughout the process.
3. To ensure data accuracy across the organization, it may be helpful to set up internal controls or training sessions on proper data entry techniques.
In short, implementing automated accounts payable solutions requires careful consideration of stakeholders’ needs as well as attention to detail when it comes to data accuracy. Taking these steps can help organizations reap the benefits of improved efficiency and accuracy in their accounts payable processes.

Benefit from professional assistance when integrating MakersHub AP solution for bill automation.