Create your centralised AP data lake. One source of truth for all payables data

Manage all documents, invoices, audit ready comments and communication on one single platform. Have all your data ready for future reference at a moment’s notice
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Safe and secure. Compliant with RBI guidelines & IndAS
Trusted by more than 3000 companies
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The Problem Today

Payables and vendor data is spread across and often lost

A clean vendor master remains a holy grail for each corporate finance team. Contact details are often saved on individual mobile phones. Further, invoices are held on different emails or various file folders and aren’t accessible when required

Compliance is ignored

Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.

No central database

Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.

Unreliable OCR systems

Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
The Problem Today

AP teams spend 100s of hours booking invoices

This is not only a waste of time and productivity, but many a times the invoice booking process has compliance loopholes, uses outdated technology and there is no central storage system for audit readiness and future reference.

Compliance is ignored

Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.

No central database

Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.

Unreliable OCR systems

Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.

Data is rarely updated

Vendor contact data is all over the place. Post vendor onboarding, the data is almost never refreshed or updated

No central repository

Invoices are often stored on employee emails. Or kept on different devices. Either way, they are difficult to locate when required

Month end surprises

Lack of real time data, and inconsistency in source of truth can result in end of month surprises regarding spends

Introducing the one stop document and data management tool built for AP teams

Centralised Database

Your universe of AP data, all in one place. Clean, trustworthy data at your fingertips

See past, current & upcoming invoices, purchase orders, credit notes and payment details all in one place. Your source of truth for all things AP
Real Time Analytics

Analyse and proactively take action with all your payments data on one dashboard

See all past and upcoming vendor spends on a centralised dashboard. See detailed analytics to make informed strategic and tactical decisions
Actionable Insights

Avoid month-end surprises with real time, actionable spend analytics

Gain more visibility and control over vendor spends in real-time. Take action before it’s too late
ERP & WMS Sync

Powerful ERP & WMS Sync for all your payables data. Works with all ERPs

Sync payment, vendor and invoice data with SAP ECC, SAP B1, S4 Hana, Oracle, MS Dynamic and many more ERPs
Unlock the potential of your finance team & boost productivity 10x. Let us show you how.
Book a free demo
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Understanding AP Data Lake & Importance of AP Data Lake in Modern Business

An AP data lake is a centralized repository that stores vast amounts of raw data related to Accounts Payable (AP) processes. It supports various data types, enabling efficient AP data management and advanced analytics. By integrating data from multiple sources, such as invoices and supplier records, it facilitates comprehensive financial data analysis and real-time insights. This allows businesses to streamline AP processes, enhance AP automation, and improve decision-making through robust invoice data analytics and supplier data integration. Moreover, it ensures effective AP data governance and scalable financial data storage solutions to support ongoing business needs.

Importance of AP Data Lake in Modern Business

1. Enhanced AP Data Storage Solutions: Centralized storage for comprehensive data access.

2. Invoice Data Analytics: Improved accuracy and insights.

3. AP Automation: Streamlined processes and reduced manual effort.

4. Supplier Data Integration: Better supplier relationship management.

5. Data Integration for AP: Unified view of financial data.

6. AP Data Governance: Ensures data quality and compliance.

7. Real-Time AP Analytics: Facilitates timely decision-making.

8. Scalable Financial Data Repositories: Supports business growth and adaptability.
Benefits of AP Data Lake
Scalability, Flexibility, and Cost Efficiency

Financial data lake solutions offer scalable and flexible architectures, accommodating growing data needs and business demands. These solutions not only provide cost-efficient AP data storage but also ensure enhanced data security and compliance, supporting AP process automation and advanced technologies.

Advanced Analytics and Operational Efficiency

By leveraging robust invoice data analytics and AP automation, a data lake for AP processes supports comprehensive financial analysis and process optimization. This leads to improved decision-making and operational efficiency through enhanced AP data governance and scalable financial data repositories.

Enhanced Data Accessibility and Integration

An AP data lake centralizes Accounts Payable data management, allowing seamless data integration from various sources like invoices and supplier records. This unified approach to AP data storage solutions facilitates efficient AP data management and access to real-time AP analytics, enhancing overall financial data lakes' utility.

Best Practices for AP Data Lakes

1. Clear Objectives & Governance: Set clear goals and strong governance to ensure data quality and align AP data management with business objectives.

2. Security & Compliance: Implement robust security and compliance measures to protect AP data and maintain integrity.

3. Scalable Architecture: Design scalable, flexible architecture with efficient data ingestion to manage growing AP data.

4. Advanced Analytics: Use AI and analytics for real-time insights and improved decision-making.

5. Performance & Improvement: Optimize performance regularly and apply continuous improvements.

6. User Training & Incremental Adoption: Provide training and implement the AP data lake gradually to manage change.

Challenges of Implementing AP Data Lakes

1. Data Quality & Integration: Ensuring consistent data quality is tough, especially with multiple AP sources. Accurate supplier data integration is key to maintaining financial data lakes.

2. Scalability & Performance: Managing scalability and performance latency requires optimized AP data storage to handle growing volumes efficiently.

3. Data Governance & Security: Strong governance and security are essential to protect sensitive AP data and ensure compliance.

4. Cost & Expertise: Financial data lakes need specialized skills for complex processes, balancing costs and technical needs.

5. Change Management & Vendor Lock-In: Managing change and avoiding vendor lock-in is crucial for a flexible, adaptable implementation.

Implementation Steps for AP Data Lakes

1. Define Objectives & Architecture: Set clear goals and design a scalable architecture tailored to AP data management and financial data lakes.

2. Data Ingestion & Management: Implement efficient ingestion, robust storage, and integration processes for a unified view of AP data.

3. Processing, Analytics & AI: Build data pipelines for real-time AP analytics, and integrate AI for enhanced automation.

4. Testing, Deployment & Improvement: Test thoroughly, deploy, and maintain continuous improvement protocols with user training for smooth adoption.
Frequently Asked Questions
How does an AP Data Lake streamline AP processes?

An AP data lake centralizes data and supports AP automation, reducing manual effort and enhancing process efficiency through real-time AP analytics and data integration.

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What are common AP data lake tools?

Common tools include Apache Hadoop for distributed storage, Apache Spark for data processing, and Talend or Informatica for ETL (Extract, Transform, Load) operations.

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What types of data can be stored in an AP Data Lake?

An AP data lake can store diverse data types, including invoices, supplier records, transaction data, and other financial information relevant to Accounts Payable processes.

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What role does data governance play in an AP Data Lake?

Data governance ensures the quality, consistency, and compliance of data within the AP data lake, supporting accurate financial data analysis and decision-making.

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How do AP Data Lakes improve supplier relationship management?

By integrating supplier data, an AP data lake provides a unified view of supplier interactions, improving communication, collaboration, and overall supplier relationship management.

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How do AP Data Lakes handle complex ETL/ELT processes?

AP data lakes use advanced ETL (Extract, Transform, Load) and ELT (Extract, Load, Transform) processes to efficiently manage and process large volumes of diverse data for accurate analysis and reporting.

What steps can be taken to avoid vendor lock-in with AP Data Lakes?

To avoid vendor lock-in, businesses should adopt flexible AP data storage solutions, use open standards, and ensure interoperability between different systems and tools used within the AP data lake environment.

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Power your corporate finance team with CashFlo

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