Digital solutions

Iron Mountain Invoice Processing solution

Enhance your accounts payable operations with secure and automated invoice processing management

Unstructured invoice processing operations

The lack of standardization in accounts payable operations may lead suppliers to manually handle invoices throughout the process, from rerouting invoices to the right recipient, to exception handling, resulting in delays and potential mistakes that could raise costs to the organization.

Iron Mountain Workflow Automation Contract Management

82%
of AP teams still manually input invoices
Source
56%
spending over 10 hours weekly on manual tasks
Source
39%
of invoices containing errors due to manual processes
Source

Elevate Accounts Payable with AI-powered automation

Iron Mountain Invoice Processing solution, built on the Iron Mountain InSight^® Digital Experience Platform (DXP), can help you:

The role of Accounts Payable (AP) is rapidly shifting from a transactional back-office function to a strategic imperative for optimizing profitability and cash flow. However, inefficiencies continue to hinder AP teams. 82% of AP teams still manually input invoices, with 56% spending over 10 hours weekly on manual tasks.1 Excessive paper handling, repetitive data entry, and siloed systems consume valuable time, limiting strategic engagement. These manual processes lead to human errors, payment inaccuracies, and strained supplier relationships, with 39% of invoices containing errors due to manual processes.

Additionally, frequent exceptions, prolonged approvals, and limited data visibility prevent AP teams from making timely, informed financial decisions and capturing strategic opportunities. Only 36% of invoices in the U.S. are paid on time, while 55% are paid late, negatively impacting supplier trust.

The role of Accounts Payable (AP) is rapidly shifting from a back-office transaction function to a strategic driver for optimizing profitability and cash flow. However, pervasive inefficiencies often hold AP teams back. Key challenges for AP departments include high volumes of exceptions (53%) and protracted invoice approvals (41%).

Make invoice processing more transparent Control invoice processing via a centralized portal with role-based access. Integrate systems for a unified view, customizing workflows and tracking payments with a clear audit trail.
Enhance accuracy and financial control Use AI to automate invoice data extraction and three-way matching, eliminating manual errors. It codes non-PO invoices, providing fast insights to optimize your cash flow.
Boost efficiency and reduce costs Access and search invoices easily in a cloud portal. Digitization and automation streamline approvals. Business rules flag exceptions, enabling compliance and data privacy.

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The results speak for themselves

The results speak for themselves

A large bank streamlines invoice processing operations to reduce costs and boost efficiency while maintaining traceability

Read the case study

Overcoming Critical Accounts Payable Challenges

Manual processes, excessive paper handling, repetitive data entry, and isolated data systems lead to significant time spent on administrative tasks, which hinders strategic work. These manual workflows are known for causing human errors, payment inaccuracies, and damaging supplier relationships. Furthermore, frequent exceptions, prolonged approval times, and a lack of holistic data visibility prevent AP teams from making timely financial decisions and seizing strategic opportunities.

What if you could:

Use a scalable, centralized, and AI-powered system to:

Gain comprehensive oversight and control over your invoice lifecycle so that all digital and physical documents are easily accessible and managed. Dramatically reduce manual errors and discrepancies by intelligently validating and reconciling invoice data against purchasing and receiving information. Streamline and accelerate invoice approvals, freeing up your team from tedious administrative tasks to focus on more strategic financial initiatives.

The Iron Mountain Invoice Processing Solution

Our Invoice Processing Solution is built on the Iron Mountain InSight^® Digital Experience Platform (DXP), a scalable, end-to-end software-as-a-service (SaaS) platform. It transforms physical invoices into actionable digital assets and automates document-centric workflows. The solution automates key AP functions, including data entry, approvals, reconciliation, and workflows. It strengthens the information management capabilities that may be lacking in your existing AP ecosystem by providing pre-built connectors, workflows, document types, metadata, retention rules, and AI prompts.

Our Invoice Processing solution helps you:

Gain control by managing digital and physical documents in a single, user-friendly portal.
Provide easy, role-based access for authorized users to streamline invoice retrieval and eliminate delays.
Customize workflows and approval processes to your specific business rules for accurate routing and prompt approvals.
Break down information silos through seamless integration with existing accounting systems, providing a centralized view of all relevant data.
Effortlessly track the flow of invoice handling and payments to gain a clear audit trail and improve accountability.

Achieve superior data integrity with AI-driven intelligent document processing (IDP), which automatically extracts invoice information, virtually eliminating manual data entry errors.
Use automated three-way matching to validate invoice data against your purchasing and receiving data, ensuring only valid and correctly fulfilled orders are paid.
For non-purchase order (PO) invoices, AI agents automate the assignment of relevant accounting dimensions to line items, significantly reducing time-consuming exceptions.
Generate fast insights to optimize cash flow, prioritize work, and improve supplier relationships.

Enable authorized users to easily access and search for invoices via a single cloud-based portal on InSight DXP.
Streamline approvals by sorting and organizing invoices with minimal effort through digitization and workflow automation.
Allow AP staff to focus only on tasks requiring human intervention by using robust business rules to automatically flag and route exceptions to the appropriate users.
Manage and enforce obligations for relevant content by enabling compliance with industry standards and systematically applying retention and data privacy policies.

The Iron Mountain advantage

The advantage of partnering with Iron Mountain lies in our unparalleled scale and the robust InSight DXP platform, which provides a complete, end-to-end solution to transform your accounts payable processes.

Global Scale

Our global scanning capabilities include 141 imaging sites in 45 countries, with the capacity for 2.6 billion images annually, providing a single point of entry for all your invoices.

AI-Powered Accuracy

We leverage AI-powered intelligent document processing to extract valuable data with an average of 97% accuracy, reducing manual errors and accelerating financial transactions.

Security and Compliance

Built on our InSight DXP, our platform provides secure, 24/7 role-based access and systematically applies retention and data privacy policies, enabling continuous compliance and minimizing security risks.

Trusted Partnership

As a trusted global partner with over 70 years of experience, Iron Mountain helps organizations optimize their AP processes for maximum efficiency, accuracy, and scalability.