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Shawnee, KS, United States, 2012/06/12 - Global sports and entertainment presenter cuts significant time from invoice processing, eliminates audit pain points (NYSE: LXK) - PerceptiveSoftware.com. NYSE: LXK
AEG, one of the leading sports and entertainment presenters in the world, has streamlined its accounts payable process with Perceptive Software’sprocess and content management products and solutions for accounts payable. AEG can now approve invoices and pay vendors faster while allowing auditors an immediate view of all needed content.
The seamless integration between Perceptive Software and JD Edwards, AEG’s primary business application, has made it easy for the AEG accounting team to process invoices.
“Our staff can move between the two systems easily. When a vendor calls with a question, the answer is just a click away so we no longer have to call back after a file cabinet search,” said Brandon Weiss, AEG Senior Director of Financial Systems & Process Improvement. “Perceptive Software products, including ImageNow, offered strong out-of-the-box features but also enabled us to customize workflows to meet our needs. Now staff can access invoices anywhere via the web and approve invoices when they’re on the road. This is a huge benefit.”
AEG can also now effortlessly track invoices at each stage of the process — from receipt through payment. This was not possible when invoices could be in transit between the offices, sitting on a desk awaiting review, or in a file cabinet drawer.
To further enhance its invoice process, AEG uses ImageNow to capture images of checks sent out via JD Edwards. These checks are automatically linked to the correct invoice within ImageNow for easy retrieval.
AEG can now pay its vendors approximately 60 percent faster as well. “This allows us to eliminate late fees and take advantage of early payment discounts, bringing a rapid return on investment,” Weiss says.
Audit pain points have also been eliminated. A financial audit at AEG used to involve retrieving a sample of documents from an offsite storage facility, then waiting for these documents to arrive for auditors to review. “Now each step in the process is visible to auditors from the time the vendor submits the invoice through payment,” said Weiss.
AEG recently presented their case study at Collaborate 2012 in Las Vegas.
About Perceptive Software
Perceptive Software (perceptivesoftware.com), a Lexmark company (NYSE: LXK), builds enterprise content management and business process management software to help organizations fuel greater operational efficiency. Organizations around the world rely on Perceptive Software ECM and BPM solutions to optimize business processes and give users the most relevant information to make the most effective decisions at any point in the process, wherever they are.