Do more with less!
4castplus delivers a suite of operational tools to help you reduce the workload on your Finance department. By allowing you to automate much of the high-volume, repetitive work undertaken by AP personnel – and offload it onto the software – your lean staff can focus on high-value, meaningful work.
Accurate, Timely and Complete Data
Much of the time-consuming burden on Accounts Payable comes from a lack of information to approve and pay vendor invoices. This is typically due to the operational teams – such as project management, field operations and procurement – not having the right tools and processes to capture timely, accurate and complete project data to feed to AP. Accounts Payable staff therefore, are left to fix and fill the gaps on missing and erroneous data when managing vendor invoices. To tackle the sheer volume of paper & files, it’s common to bulk-up on the admin resources needed for this back-office function.
Download this free eBook
Click here to download this free eBook on Reducing your Costs of Managing AP and AR Information
Give Your Team the Right Tools
4castplus provides the tools to ensure data is complete and accurate from the moment it’s entered into the system – well before AP is involved. Even after the data is entered, a series of checks and balances are then performed on the data to double-check the quality. This allows you to avoid the scenario where AP is saddled with the burden of piecing together the information to make informed decisions.
Whether data is entered from the Field, the Office, or directly from your Vendors, 4castplus brings you One Touch Data simplicity and accuracy.
Vendor Invoice Matching Automation
4castplus provides critical tools for vendor invoice matching and approvals. With the addition of the “AP Automation” module that electronically approves invoices, finance teams can alleviate a significant portion of the AP burden, reducing costs and much of the manual AP effort. For more on this, read this article on the 4castplus AP Automation App.
As a centralized operational solution, 4castplus is the entry point of day-to-day transactional information from suppliers and subcontractors and therefore holds key information to enable AP to match invoices against the original incurred-cost transaction. Operational teams such as project managers can also use the Invoice Matching tools to further streamline the AP process.
3-Way Match and Accruals Reporting
Users that take advantage of the powerful Procurement system built into 4castplus will realize enormous productivity gains at all levels of the organization. This system provides visibility into Committed, Incurred, Invoiced and Accruals for all vendor purchase orders. The built-in modules for purchase order creation (Committed), receiving including Field Receiving (Incur), and the invoice matching (invoiced) are powerful and very easy to use. Watch this video that follows the 4castplus 3-way match processes.
A Multitude of Reporting Options
4castplus is flush with key reports for AP to gain tremendous visibility into all historical, current and future payables and accruals. Users can even create their own custom reports to tailor the information to their specific requirements.