The Accelerator is Dead – Move to Inspyrus
By: Carl Dion, PMP | Senior Solution Architect
What is that music playing softly in the background? Oh! It is “Taps”, playing quietly for the Oracle Financials Image Processing Solution Accelerator, a.k.a. The Accelerator, R.I.P.
After a long reign as Oracle’s premier solution for Automated Invoice Processing, Oracle has quietly put The Accelerator to rest to make way for the Inspyrus Next Generation Invoice Processing solution. The Inspyrus solution utilizes an Oracle WebCenter foundation. The solution is based on an innovative approach that provides a complete end to end solution for invoice processing that embraces procurement, suppliers, accounts payable, approvers, and auditors, and is easily integrated with the major ERP systems. Furthermore, extensions to the Inspyrus Invoice Processing solution provide suppliers invoice processing self-service capabilities and allow companies to take advantage of a new early payment discounting concept – dynamic discounting. You can register for a live webinar to learn more about this solution.
I, personally, have been implementing automated invoice processing solutions for over 25 years. I have been working with customers on Accelerator implementations for much of the last ten years. It is bittersweet to see The Accelerator be put to rest. However, I am very excited to now be working on the next generation solution – the Inspyrus Invoice Automation solution. It is by far the most effective, user-friendly, and complete solution for automating invoice processing that I have worked with.
Here is a brief introduction to the advantages of the Inspyrus Invoice Automation solution—
Inspyrus analyzed legacy invoice processing solutions and identified a number of key limitations each currently has:
- Limited end-to-end automation
- Primarily image & data capture automation
- Only partial 2-way PO match automation
- No 3-way match automation
- Fragmented application components complicating access, transition of data throughout the workflow process, and real time integration with ERP system
- Generally 4 different applications must be accessed for OCR’d data verification, workflow processing, exception reporting, and matching in the ERP system
- Limited ERP integration and no multi-ERP integration
- Multiple user interfaces required to access the above 4 applications creating a clunky awkward user experience
- Components are separate silos restricting end-to-end visibility of data and transaction actions in the process
- Users do not have a single view to track invoices across the entire process and invoices get lost between different applications – with no end-to-end analytics
Aware of the above limitations and taking advantage of their deep ERP system knowledge, Inspyrus based the approach and design of their Invoice Automation solution on the following concepts:
- Only quality exception free invoice data should be sent to the ERP system.
- All users – procurement, suppliers, accounts payable, approvers, and auditors – require a single, effective, easy-to-use user interface, integrated real-time with multiple ERP systems.
- A single unified best-practice workflow process is required.
- Automate as much as possible – invoice creation, 2-way and 3-way PO matching, GL coding.
- Complete, detailed end-to-end visibility of all transaction data and actions in flexible detailed user friendly dashboards and reports for operational staff, executives and auditors.
- Include supplier self service capabilities.
The result is a solution that:
- Utilizes a single application and single unified workflow with a single user interface for:
- OCR’d data verification, workflow processing, exception reporting and matching in the ERP system
- Provides complete end-to-end automation for up to 90% overall automation, including:
- Fully automated 2-way PO matching, including blanket PO invoices
- Fully automated 3-way PO matching for scenarios where receipts happen before or after invoices arrive
- Automated GL and tax coding
- Exception-free automated invoice creation
- Has real time integration with the major ERP systems, including:
- Unique multi-ERP connect capabilities from the single Inspyrus application instance
- Out-of-the box workflows based on best practices for processing:
- Non-PO, 2-way and 3-way PO Invoices, Credit Memos, Check Requests, Freight invoices and more
- Provides complete visibility to all end-to-end data and transaction actions for tracking and reporting, including:
- Out-of-the box advanced analytics with more than 80 dashboard charts and reports
- Has deployment flexibility
- Available On-Premise and in the Cloud
With the Invoice Automation solution as a foundation Inspyrus offers extensions for:
- Supplier self-service access to their invoices in the ERP system – Inspyrus Supplier Central
- Allows online invoice creation and PO-flips
- For all supported ERP systems
- Best-in-class automation functionality to maximize Early Payment Discounts – Inspyrus Integrated Dynamic Discounting
Again, I have been implementing automated invoice processing solutions for over 25 years. The Inspyrus Invoice Automation solution is by far the most effective, user-friendly, and complete solution I have worked with. So, if you are looking to automate a paper-based invoice processing operation, upgrade your Oracle Accelerator-based automated invoice processing solution or other vendor legacy automated invoice processing solution, I highly recommend the Inspyrus Invoice Automation solution with the Supplier Central and Dynamic Discounting extensions.
Sounds too good to be true? Well, Check out this TekTalk webinar replay: Invoice Automation in the Cloud with Oracle EBS to watch a demo. Click here to watch the replay now.
TekStream Solutions has an extensive team of imaging business analysis and technical resources with over 50 years of experience implementing imaging-based AP invoice processing automation solutions. Contact TekStream at www.tekstream.com for an introduction to the benefits and value an Inspyrus Invoice Automation Solution will bring to your organization.