Accounts Payable Automation With Droidal
Ensure faster payments, error-free transactions, and reduced discrepancies with Droidal’s cutting-edge Accounts Payable Automation Solution tailored to meet all your accounts payable automation needs.
What is Accounts Payable Automation?
Accounts payable (AP) Automation refers to the use of technology and software solutions to streamline and optimize the AP processes in healthcare organizations. It involves automating various tasks, such as invoice processing, data capture, approval workflows, expense and claims processing, and payment management.
How Does Accounts Payable Process Automation Work?
Accounts Payable Process Automation works by integrating seamlessly with your existing healthcare systems. Once implemented, the automation platform can capture invoice data digitally, validate it against predefined rules, and route it for approval through customizable workflows. The system can also automate payment scheduling, ensuring timely payments to providers.
Challenges in Traditional Healthcare AP Processes
Manual AP Processes
Traditional manual AP processes in healthcare organizations involve a series of manual tasks, such as physically handling paper invoices, data entry, and manually matching invoices with purchase orders. These manual steps can lead to data entry errors, processing delays, and tracking invoice status difficulties.
Time constraints
Healthcare Accounts Payable Process Automation Service Providers often face challenges like time constraints, managing a high volume of invoices, and handling exceptions in invoice processing. These challenges can result in delayed payments and hindered cash flow.
Duplicate payments and strained payer relationships
Late payments due to Inefficient AP processes can lead to strained payer relationships. Moreover, manual errors can lead to overpayments or duplicate payments, impacting the organization’s financial stability.
Key Features of Accounts Payable Process Automation
Seamless Integration with Existing Healthcare Systems
Droidal’s Accounts Payable Automation Solution offers seamless integration with your existing healthcare systems, such as Enterprise Resource Planning (ERP) and Electronic Health Records (EHR) software. This ensures a smooth transition to automated AP processes without disrupting your established workflows.
Advanced Data Capture and Invoice Processing Capabilities
Droidal’s Accounts Payable Automation platform utilizes advanced data extraction modules, Optical Character Recognition (OCR) and Natural Language Processing (NLP), to accurately extract information from invoices. This reduces the need for manual data entry and minimizes the risk of errors.
Customizable Workflows for Unique Healthcare Requirements
Our Accounts Payable Automation Solution allows you to create customized approval workflows that align with your healthcare organization’s unique requirements. This flexibility ensures that invoices are routed to the appropriate stakeholders for approval, streamlining the entire AP process.
What Sets Droidal's Accounts Payable Automation Solution Apart?
Experience and Expertise in Healthcare AP Automation
Droidal has a proven track record of successfully implementing AP Automation Solutions in various healthcare organizations. With years of experience, our team understands the intricacies of the healthcare industry and tailors the automation platform to suit your specific needs.
Audit Reports
Our Accounts Payable Process Automation Solution offers audit trails and reports, allowing healthcare organizations to track the status of their invoices and payments for audit purposes, reducing inquiries and improving vendor relations.
Real-Time Analytics
Droidal’s platform provides real-time insights into your AP processes, enabling you to make data-driven decisions and identify areas for improvement.
Compliance and Security
Dorial prioritizes data security regulations – HITECH Act, HIPAA (Health Insurance Portability and Accountability Act), SOC 2, and the European Union Global Data Privacy Regulation (GDPR), ensuring that your sensitive financial information remains protected.