Accounts Payable

Current State

Future State

• No central view / tracking of purchasing requests
• A vast majority of payments including intercompany settlements are made via paper check
• Manual uploads or entry to online banking system
• Invoice discounts are rarely taken as discount terms are usually expired when invoice processing is complete
• Highly manual review process to confirm a PO, receipt of goods and supplier invoice matches

• Streamlined check request and invoicing process through:
  • A single, online entry point for all purchasing requests
  • Reducing types of purchases that can be made via check requests (all purchases require a requisitioned PO)
  • Faster payments and decreased cost to LLUH through bank integration and use of ACH payments
• Increased savings for LLUH through:
  • Standardized payment terms across entities
  • Ability to negotiate additional payment discounts with suppliers
  • Prioritization of invoice payments based on availability of invoice discounts
• Automatic three-way match (PO-Receipt-Invoice) and auto-approvals for successful matches