![]() IPS provides digital solutions that transform business applications such as accounts payable, media and advertising and business process automation. IPS Productivity Wrx℠ tracks all invoices and provides authorized users with real-time visibility into the end-to-end status of each invoice. All required invoice data as well as the approved invoice is digitally uploaded to the advertising agency’s systems. Alternatively, the platform supports an automated revision process for the resubmission of defective and/or revised invoices. An automated process enables suppliers to add or revise invoice data via a collaborative online portal without having to re-submit the invoice. ![]() Defective invoices – such as those with missing information or an incorrect total – are automatically identified prior to the approval process and digitally routed based on pre-set business rules. Extracted data is validated to guarantee invoice data accuracy of 99.95 percent. Once an invoice is received, IPS Productivity Wrx℠ uses intelligent data capture technology to extract invoice data. ![]() All physical and electronic invoices are centralized onto the Productivity Wrx℠ platform. IPS uses software “bots” that it developed to automatically retrieve invoices from a supplier portal, e-mail box or FTP site. “IPS Productivity Wrx℠ for Media enables media and advertising agencies to post electronic invoices directly to their media, accounting and enterprise resource planning (ERP) platform, without human operator intervention.” “Supplier invoices received via e-mail and other electronic channels shouldn’t have to be treated as exceptions that require a significant amount of manual effort,” said IPS Founder and CEO Greg Bartels. ![]() IPS also provides complete transparency across the invoice approval cycle, enabling media and advertising agencies to better monitor and control their working capital and corporate spend. Posting invoices electronically, without human operator intervention, enables media and advertising agencies to reduce invoice approval costs by more than 50 percent and dramatically accelerate their cycle times. Relying on e-mail for invoice approval, exceptions resolution and reconciliation provides poor control over the routing of invoices, offers no tracking or visibility into the status of invoices, and requires suppliers to re-submit and revise problematic invoices, such as those with incomplete or inaccurate data. Some media and advertising agencies use e-mail to receive and approve invoices and reconciliation. Most media and advertising agencies require human operators to manually handle all the invoices they receive from suppliers via e-mail, file transfer protocol (FTP) upload or an online portal. The IPS Productivity Wrx℠ platform not only supports Google and Facebook, but all digital invoices from any publisher or content provider. IPS Productivity Wrx℠ processes more invoices received electronically from Facebook, Google and other digital media companies than any other automated media payables solution in the world. ![]() IPS, a leading provider of solutions that digitally transform the accounts payable process end-to-end, announced today that its Productivity Wrx℠ platform is helping the world’s leading media and advertising agencies eliminate more than two-thirds of the manual effort associated with processing invoices received via e-mail and other electronic channels. ![]()
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