One of the most popular and successful applications for digital documents is Account Payable automation (AP automation). Deployment of a system to automate payables with efficient, streamlined processes guiding your AP department will guarantee faster, more cost-effective operations to keep your business thriving.
By using AP automation and electronic document management services, your company can quickly and securely capture, process and route AP invoices automatically. Moreover, with the implementation and continuous application of these automated solutions to transactions, you can rest assured that your firm’s past records, present invoices and future dealings are all in good order.
- Maintain order and organization along each step of the way will allow for
- Faster invoice processing cycle times
- Reduced errors
- Improved vendor relationships
- Reduced costs.
According to research conducted by International Accounts Payable Professionals www.financialops.org/home (IAPP), nearly half (45.6%) of respondents indicated that the time it takes their organizations to process an invoice has not changed over the past year.
The inability to depart from old legacy practices prevents many organizations from taking advantage of the benefits of new, easy-to-implement automation technologies. There is simply no reason why your AP processes cannot and should not be modernized.
Through the elimination of manual tasks, such as digging through storage to search for existing files you can achieve better utilization of staff and consequently overhead savings and happier employees. Instead, use AP document management software to instantly locate invoices and their supporting documentation simply by keying in one search request. Improved filing accuracy and much easier access to files also leads to more timely dispute resolution.
Finally, automation also gives way to a reduction in manual errors, which serves as a helpful confirmation that past invoice archives were handled precisely the first time around. In fact, with docSTAR AuthentiDate time, date, and content stamps on every image, you’re guaranteed file integrity from the moment it’s processed.
Overall, AP Automation generates a higher level of efficiency and visibility, which enables businesses to make the most of their resources. Take advantage of the present; empower your employees with more valuable work tasks and improve vendor relationships by leaving your AP processing to expert automation.