ACOM Solutions offers your nonprofit a set of modules designed to allow “end-to-end” solutions with the objective of processing all your business-to-business payments.
The solution offered from ACOM automates your nonprofit’s entire accounts payable operation, from data capture to payment processing and reconciliation.ACOM Solutions, Inc. has over 4,000 customers and has spent more than 34 years in business. The business is an industry leader in AP and payment automation solutions. Additionally, ACOM is an Abila partner and provides integration of its AP automation solution with MIP Fund Accounting™. Also, NFP Partners has been a value partner with ACOM for over five years.
How can ACOM Solutions help your nonprofit’s data capture and approval?
As with any organization automating their accounts payable operations, data capture is one of the major factors to consider.
ACOM’s EZContentManager provides various methods to capture the data needed for the accounts payable process. One method is OCR capture (Optical Character Recognition). Using OCR, the system will parse the information contained within the scanned or electronic document. Then, it will recognize the data and route the invoice for approval.
The second option captures data via the inbox. This method, again, identifies specific data to begin the process. Nonprofits can use a combination of both of these methods for data capture.
Once data is held, it will be manually or automatically assigned an approval path. The path is decided based on the particular workflow routing rules established by clients. One item that may be helpful in this solution, is the fact that there are no limits to the workflow set up. This means you can have sequential and parallel approval paths.
ACOM enables users to design static or dynamic routing. ACOM also delivers automated email notifications to alert approvers of tasks awaiting their individual processing assignments. As approval routing is time-based, users may arrange the timed launch of specific notifications and re-routing escalation procedures.
Another factor that can be helpful is that multiple people can be assigned a task. For example, two AP clerks can share access to manage the system.
What does your nonprofit’s payment processing look like with ACOM Solutions?
The ACOM AP automation solution comes with a unique payment processing module. This module enables MIP users to eliminate 100% of their check printing and mailing costs. Subsequently, become 100% paperless with their vendor payments.
The module integrates directly with MIP. This provides users with full visibility and control over the payment process. It also eliminates all of the payment headaches and costs without languishing any control.
ACOM has a comprehensive AP payment module and is usually free of charge to qualified nonprofits. If the client submits their vendor list containing the vendor name, address and AP annual spend, vendor analysis will determine whether the program and service are free of charge. An NDA is available.
To learn more about this program, click here.
Additional features from the nonprofit AP provider, ACOM Solutions
Your nonprofit can access documents from MIP screens
ACOM’s EZContentManager allows users to see the actual document images through MIP screens. This eliminates the cumbersome operation of toggling between application screens.
Use distribution codes to set up MIP
Additionally, EZContentManager allows distribution codes to be set up in MIP. More specifically, an approver can indicate that the coding should follow X distribution without having to enter each line.
ACOM payment hub add-on
ACOM’s integrated payables system is bank-level secure. Because of such, users can connect data from their MIP system to one platform. Furthermore, this platform can pay vendors and suppliers with a single payment file.
The system allows the connection of multiple bank accounts and invoice data from multiple offices and processing points to centrally make payments of any type—including virtual credit cards, checks, ACH or wire.
Also, ACOM manages the transition of a user’s vendor community from paper to ePayments with their communications & enrollment program. Their objective is to get 75% of vendors paperless for payments. Moreover, ePayments implementation and processing are provided at no cost to qualified nonprofits.
ACOM technology your nonprofit can benefit from
EZCM operates in a traditional client-server technology model. The ePayables Payment Hub is a secure cloud-based system. And, ACOM released their cloud-based, AP automation system in 2018.
Integration with nonprofit accounting software (MIP)
Integration with MIP is accomplished through various methods. For example, vendors and chart of account table changes are picked up immediately through APIS developed by ACOM, where individual AP transitions are brought into MIP through the import utility.
Licensing and cost for the nonprofit AP automation provider, ACOM Solutions
ACOM’s entry-level AP Automation EZCM solution can be obtained for less than $10,000. However, as with any system, it is always imperative to get exact information from the provider. On-Premise software costs are based on the number of users and document types. Annual maintenance and unlimited hotline support is 20% of the license cost.
Nonprofit organizations best suited for ACOM Solutions
There are many factors that come into play when deciding on the best AP automation solution. However, ACOM feels that it provides a unique opportunity for agencies of all sizes and varieties.
NFP Partners is a “Value Partner” with ACOM and can respond to questions about the product. Please contact us for questions. Also, for more information, click below for links provided by ACOM to a demo video for an Abila-MIP and brochure.
Written by Jody Zatorski