Accounts payable operations can be chaotic, but AP automation solutions can help. First off, there’s the chaos of lost invoices, errors during data entry, and invoice duplicates that comes with the analogue version of accounts payable. Then, you have staff members banging their heads against the wall doing the same monotonous tasks over and over again. And if you’re considering implementing an AP automation solution, the daunting task of researching, integrating, and training your staff can seem like too much to bear.
Congratulations, you have decided to implement a document management solution at your business. You’ve realized the countless hours lost searching for documents, redoing versions, tracking down approvals and basically every task in the office that involves paper, and you've decided to make a change. Now the question is - how much is all this going to cost?
Did you know you could reduce your document management costs by up to 80% if you choose the right system? Download the infographic for free when you subscribe to our blog.
You know the routine. Each month, you hand your accounts payable specialist the stack of invoices from your vendors and suppliers for entry into your accounts payable system. Your employee will spend the next two days staring at the computer, working to get everything done. At this point, the routine is so repetitive that they could do it in their sleep and often do. Sounds exciting, right? There has to be a better way. OCR technology could be the answer.
Cloud-based accounting software serves essentially all the same functions as your traditional on-premises or self-install accounting software; however, the key difference is that cloud-based software is hosted on remote servers, providing additional benefits in storage and security. These systems work by sending data to the cloud, where it is processed first, and then returned to the user. All application functions are performed off-site, rather than on the user’s computer. Users can remotely access their data anywhere they have internet access simply by using the cloud application’s software provider. An increasing number of business owners are making the switch to cloud-based accounting software. Below are just a few of the benefits experienced:
While many companies have digitized and streamlined their human resources and procurement workflow processes, significantly fewer companies have optimized their accounts payable (AP) process for efficiency. Adding efficient, cost-effective automated invoice processing and AP systems can make a big difference. Below are the latest recommendations for businesses looking to implement automated invoice processing or other AP automation systems.
Thanks to the fast development of paperless technology, businesses have a new way to improve their efficiency and administrative costs, while also reducing their carbon footprint (or “going green”). Making the switch from a traditional, paper-based office to an automated paperless office is understandably daunting; as such, we’ve collected the following tips and tools to help your business begin its transition toward a paperless future. Remember this is not going to be a one-and-done, instantaneous transition – it’s a process! TIP#1. Stop storing and start scanning. Physically storing all of your business documents is typically expensive, unorganized, cluttered, and prone