Accounts Payable

Reduce cost, errors and paper

Managing money with a paper-based process results in errors and inconsistencies. You want to improve the accuracy of all of your accounts payable activities, saving your company time and money.

Meet Your Challenges

  • Eliminate erroneous pricing with 100% line checking against contract price.
  • Gain accurate visibility of invoice commitment.
  • Eliminate re-keying and errors with automated integration with accounts package.
  • Trade electronically with smaller or low-volume suppliers thanks to PDF invoicing.
  • Get the real story behind your data with clever analytics.

Automate your AP processes with Fourth for 100% accuracy, 100% transparency and zero unnecessary cost. Our mobile invoice management solution significantly reduces the error and cost of processing through automated 3-way checking and matching of inbound statements/bills/accounts against electronic purchase orders and goods received notes..

Key Benefits

  • Accounts payable overhead is significantly reduced.
  • Staff can focus on driving further efficiencies with no more unnecessary admin burdens.
  • Invoice volumes are decreased.
  • A totally paperless work environment, without the costs of document filing, storage, postage and paper, is created.

Features

Goods Receiving

The Problem
It's not easy to manage multiple deliveries of a single order. But accepting deliveries of goods where quantity and price variance exceeds the customer-defined threshold is all too easy. And conducting these transactions on paper leads to overpayments and operational inefficiencies.

Our Solution With Fourth's fully mobile solution, these issues are in your past. Simple receiving screens make it easy to log orders. Features include automated cost allocation for freight and taxes, landed cost functionality and the ability to choose from direct charge or perpetual inventory. Payment can be made with card, cheque, cash or accounts payable. Shipments can be easily palletised by ordering outlet. And smart analytics and vendor performance and shorts reporting make it easy to see the real picture.

Invoice Matching

The Problem
Making sure that invoices tally perfectly with purchase orders and goods received notes is a time-consuming and manual process, with a considerable margin of human error.

Our Solution Automating the whole process with Fourth eliminates human error and materially reduces the AP headcount. 100% line checking against contract price eliminates erroneous pricing. Smart reporting and invoice automation software give accurate visibility of invoice commitment. And automated credit note management, and full integration with accounts software makes re-keying and errors a thing of the past. It auto-generates the goods-delivered-not-invoiced accrual and reverses this when the invoice is matched.

PDF Invoicing

The Problem
Hospitality operators typically buy from a range of suppliers including niche or smaller trading partners. These suppliers often do not have the infrastructure in place to trade electronically. Combining manual processes with electronic trading leads to confusion and errors.

Our Solution PDF invoicing enables smaller or low volume suppliers to trade electronically too. Electronic invoicing software scans and processes paper documents and all suppliers trade on the same strong, secure and auditable platform.

Finance Integration

The Problem
No matter how slick the invoice matching process, duplications and errors are a constant risk if the invoice process does not integrate deeply and fully into the accounting software.

Our Solution With Fourth invoice software, matched invoices are sent to accounts automatically and seamlessly, regardless whether they arrived via EDI feed, a scan or direct entry into the system. Fourth's solution makes the whole process simple and accurate. Spend is controlled and transparent at all times - in real time.

Neither our staff nor our customers could conceive of going back to the old manual system. The partnerships we have developed with customers has helped fuel our growth. We would not be able to do the level of business we do now without Fourth’s Purchase-to-pay,

Not only does it cost us far less to use than it saves us, the convenience of it is also a selling point to our customers when it comes to contract negotiations or winning new business. It’s firmly part of our tender process.

Richard Calder IT Director

The simplicity of the Fourth systems is a real plus - it just works, and … and we have been able to raise the skill level of the finance team. Manual entry is virtually eliminated, so we can now invest in better qualified people doing analysis rather than processing – and that adds real value.

Gareth Harrison Joint MD

Specs

All you need to run Fourth’s products is a device with an internet browser. Yup, that’s it.