Comps for account payable processing
COMPS enriches accounting data derived from invoice processing by integrating additional details provided by suppliers, effectively bridging the gap between document management systems (DMS) and ERP functionalities to meet the detailed information needs of business users and finance users. Designed for seamless integration as an enhancement to existing DMS or as a standalone insights database, COMPS empowers controlling and production teams with the ability to track costs with unprecedented efficiency and accuracy. Through the automation of data integration — capturing nuances not addressed by DMS and beyond the manual processing capabilities of accountants — our solution provides organizations with deeper financial insights. This fosters enhanced cost management and propels strategic decision-making to new heights.
Objective
Empower organizations with COMPS to seamlessly enhance invoice processing data with supplier details, bridge DMS and ERP gaps, and provide comprehensive cost tracking insights for controlling and production teams.
Scenario
In a typical scenario, a company struggles with the limitations of its document management system (DMS), which fails to capture certain supplier-provided invoice details crucial for accurate cost tracking. This gap in data leads to challenges in budgeting and financial planning, particularly for the controlling and production departments. COMPS comes into play by integrating directly with the company’s existing DMS and ERP systems, automatically incorporating these critical supplier details into the accounting data. This automation not only reduces the workload on accountants but also ensures that controlling and production managers have access to detailed, accurate, and real-time financial insights. As a result, the company can more effectively manage costs, make informed strategic decisions, and optimize overall financial performance.
Benefits
Why Comps?
Faster processing
Connectors
Risk-free trial
Our dedicated team will lead you through the comprehensive analysis of your business processes and goals. Furthermore, we will tailor Comps to your specific needs, ensuring secure data migration and seamless integration into your system landscape.