Seamless Electronic and Traditional Support

The introduction of electronic AP and AR management systems provides obvious advantages when suppliers provide invoices and accept payment electronically, but if the electronic solution does not provide support and streamlining for traditional invoicing and payment as well, the cost savings projected may not be realistic. While individual transaction costs may look appealing and efficient when processed electronically, if the solution does not support both electronic and traditional mediums your organization is still forced to maintain resources required to process by traditional means in tandem with new electronic methods. Instead of streamlining the AR/AP lifecycle you are expanding it by introducing new processes without removing the old inefficient ones. To recognize the full value of AR/AP management the solution must provide efficiency independent of trading partner adoption.

Any AP/AR management solution should support these considerations. Trading partner adoption tools can accelerate full adoption but they are not enough. To realize the full value of an automated AR/AP solution there must be a seamless, consistent method for key activities and consolidated control and tracking over all AR and AP functions regardless of the original format or trading partner requirements.

At Harbor Payments we develop next generation solutions that also insure traditional process support. With Harbor Payments solutions your organization recognizes the full value of the latest payment processing technology, as well as significant efficiencies in traditional invoice receipt and traditional disbursement. Harbor Payments solutions provide all the value that should be expected from AP/AR automation and more when trading partners adopt electronic processing, while providing significant efficiencies and consistent processing for traditional invoicing and payment needs

Traditional Invoice Conversion:

• Paper based invoices are scanned and loaded into your organizations system transparently
• Your operation is not forced to maintain data entry processes. All invoice data is identical in format and consolidated in the system regardless of the source
• Your AP team maintains a consistent process regardless of trading partner adoption of the service
• Your organization realizes cost savings even with trading partners who do not adopt electronic processes

Traditional Payment Automation:

• For payees that do not accept payment electronically, Harbor Payments solutions provide robust internal, remote and outsourced print and distribution automation tools
• These tools are a seamless continuation of the electronic disbursement tools in the Harbor Payments solution set and offer the same automatic routing and origination capabilities
• Harbor Payments solutions track each invoice’s disbursement requirements and automatically route the authorized payment to that process according to your organizations established methods
• AP/AR personnel maintain a consistent process regardless of the trading partner’s payment requirements
• Your organization realizes cost savings even with traditional disbursement methods

Seamless Integration of Traditional and Electronic Requirements:

• Harbor Payment Solutions convert all AP/AR data to single consistent format and consolidate that information for automated processing
• Because the method of invoice and payment transmission and receipt is independent of the other key processes, your operators maintain a single contiguous, consistent workflow
• All the efficiencies gained through electronic automation are available with traditional process requirements as well