Accounts Payable FAQ
Q What is SnapAP?
A_SnapAP is a complete P2P automated process, covering Purchase Order Approvals to Payments.
Q So many companies are offering automated AP solutions, what makes SnapAP different?
A_SnapAP isn’t about automating existing processes – it’s about eliminating wasteful processes, adding controls, and getting it right – UP FRONT!
Q I don’t want to modify my ERP, can I still use SnapAP?
A_SnapAP is designed to be used with any ERP, with no customization necessary. Data is transmitted through staging tables by a custom interface.
Q Our company has multiple ERP’s, which results in many things being done twice. How can SnapAP help?
A_SnapAP is designed to work in many configurations, including multiple ERP’s. The staging tables in SnapAP can be used to share data between many ERP’s, eliminating the need to manually enter the same data multiple times!
Q I’m worried about the security of my data, what makes SnapAP so secure?
A_For maximum security, SnapAP is hosted by you, in your environment, on your servers, managed by your team.
Q Can SnapAP handle Purchase Order Approvals for me?
A_SnapAP has a built in Purchase Order Approval process. Approvals are completely electronic! Full Audit trails provide complete transparency to the process.
Q What kind of Invoices does SnapAP handle?
A_SnapAP is designed to manage 100% of your invoices! From Material, Service, Stock, Travel, even Non PO Invoices! SnapAP has the ability to manage your employee Expense Reports as well, streamlining that process too!
Q Can SnapAP handle Non PO Invoices as well?
A_Certainly! The SnapAP process is designed to handle 100% of your invoices! Having only one process for invoice entry simplifies Accounts Payable!
Q How does SnapAP help me become Paperless?
A_The SnapAP process is designed to be completely electronic, right from the Purchase Order all the way to Payment! There is no scanning or ‘digitizing’, as it is a truly paperless solution!
Q Can SnapAP manage various Approval Hierarchies? What about Approval Limits?
A_SnapAP has a built in Approval Hierarchy management process. Approval limits are set by you, so you always have 100% control!
Q What about Invoice Coding?
A_SnapAP has the ability to manage Invoice Coding – from Non PO Invoices, to modifying the Purchase Order Accounts, managing invoice coding is a simple process!
Q How does SnapAP reduce defects?
A_SnapAP is designed to get it right, up front! When a Supplier gets a Purchase Order, they are asked to review the details, ensuring everything is correct.
Q We have a lot of Employee Expense Reports, can SnapAP help with that too?
A_Certainly! SnapAP has a built in Expense Report process that enables Employees to not only submit their Expense Report from anywhere, but also Approve expense reports from anywhere! With SnapAP, Employees can have their expenses paid within 24 hours!
Q What internal controls does SnapAP provide?
A_Every process within SnapAP has a full audit trail of any transaction – the whole story is always there, providing 100% transparency!
Q What kind of productivity gains can I expect in our Accounts Payable department?
A_In a paper based Accounts Payable process, the ratio is 1 full time employee per 8-12k invoices per year. Using the SnapAP process, that ratio is 1 full time employee per 80-90k invoices per year!
Q I’m worried that my Suppliers won’t buy in… what’s in it for them?
A_Suppliers love SnapAP! Here is just a few examples of why you needn’t worry:
- Extremely simple interface, very intuitive
- 24/7 access to all of their Purchase Orders, Invoices, and Payment Status
- No software required by the supplier, and no fees for the supplier!
- Complete visibility – Suppliers always know the status of their Invoices, as well as when they are due to be paid! Predictable payments help with their Cash Flow Management!
- NO MORE LOST INVOICES!!
Q What kind of Suppliers are entering invoices in SnapAP?
A_Suppliers of all sizes enter invoices into SnapAP – from large multi-national corporations to small local businesses!
Q What about my large volume Suppliers? What can SnapAP offer to them?
A_Computer to Computer invoicing is here! SnapAP has a simple and completely automated XML process to manage computer to computer invoicing files.
Q How hard is it to train a Supplier to use SnapAP?
A_SnapAP training is a… Snap! Your larger Suppliers can be trained one on one, but that doesn’t take any longer than 20 minutes!
Q What is your onboarding process?
A_Generally we work with you to train your top Suppliers in person. SnapAP has built in functionality that enables you to automate the onboarding process! Once automated, you can expect greater than 90% of your invoices to be entered directly by your suppliers! This means that Accounts Payable is now working ON the process, instead of IN the process!
Q How long does it take a Supplier to enter an Invoice in SnapAP?
A_It takes less than a minute to create and submit an invoice in SnapAP!
Q What kind of Invoice Cycle time can I expect with SnapAP?
A_While traditional paper processes typically measure cycle times in days, SnapAP measures Invoice cycle times in MINUTES!
Q We have approvers that travel often… can they Approve records on their mobile devices?
A_If they have access to the Internet, then can Approve Purchase Orders, Invoices, and Expense Reports anywhere in the world!
Q We still pay most of our Suppliers with cheques, how can SnapAP help?
A_SnapAP has the ability to manage payments electronically: The SnapAP Cash Manager! Not only does this electronic ‘filing cabinet’ allow you to manage individual payments, but it sends electronic payment files to the bank to pay your Suppliers immediately via EFT! NO MORE LOST CHEQUES! NO MORE CHEQUE FRAUD!
Q How does a Supplier know when he has a new Purchase Order?
A_SnapAP automatically sends an email notification to your Supplier when they have a new or revised purchase order to review. The email notifications contain links that will bring the supplier directly to the Purchase order in SnapAP!
Q How do my employees know when they have something to Approve?
A_SnapAP sends email notifications out automatically when something requires approval! The email always contains a link to bring them to the item requiring their approval directly in SnapAP. Also, when an employee logs into SnapAP, they are greeted with a landing page that contains all items that require their action!
Q Can SnapAP help me capture early payment discounts?
A_With SnapAP, invoice cycle times are measured in minutes, allowing you to decide whether you’d like to take advantage of early payment discounts!
Q Am I able to control what my employees can see in SnapAP?
A_Employee accesses can be configured with many different roles. Employees always see their own items, you decide if they are able to see more!
Q Can SnapAP manage delegation of approval authority?
A_SnapAP has a built in Delegation module that allows your employees to delegate their approval authority at any time! This eliminates any potential delays in processing invoices due to employee vacation or shift rotations!
Q My AP team constantly receive calls from our Suppliers looking for status updates on their invoices… How can SnapAP help?
A_Since Suppliers have access to all of their records online 24/7, they no longer need to call AP to determine the status of any Invoice or payment! When a Supplier looks in SnapAP, he sees the same information as your AP team! Since everything is available 24/7, Supplier no longer send statements, as it is all online!
Q How long has SnapAP been around?
A_SnapAP was developed starting in 2006, and has been in use since 2009. SnapAP is currently in use in Canada, the United States, and Australia!
Q How can SnapAP help us save money?
A_The SnapAP transforms your entire P2P process to make it as efficient as possible! The most visible and direct savings is obviously the increased efficiency in your Accounts Payable department, but the benefits extend far beyond there:
- No more paper invoice = no more filing!
- No more filing = no more lost invoices!
- No more lost invoices = no more wasting time searching for invoices!
- SnapAP gets it right up front, meaning less re-work!
- Full transparency for Suppliers = less supplier inquiries
- Complete audit trails provide 100% transparency, leading to increased internal controls!
- Very low invoice cycle times means timely cost numbers!
- Very low cycle times means ALL invoices are available to be paid on time, every time! This allows you to capture any discounts you may wish to take advantage of!