If you’re working with Microsoft Dynamics GP, you know how much time this powerful electronic accounting solution can save you. But are you using it to its fullest potential? If you are still entering invoice and financial data by hand from paper documents, you’re missing out on the full power of your investment.
Automating your AP process with document management integration can alleviate the time spent entering data twice, eliminating double data entry and freeing up your staff to focus on more important tasks.
With a number of business process automation and document management products on the market, it is important to find a partner who can help you to maximize your investment by taking full advantage of streamlined reporting, flexibility, and intelligent data capture – without doing double the work.
To best leverage your MS Dynamics GP investment, there are 4 key areas an AP Automation integration partner should focus on to help collaboration, efficiency and overall productivity:
Reduce your procure-to-pay processing time
Effective AP automation systems can securely capture, process, and route your AP invoices automatically. Invoices can be indexed and via workflow rules, matched against MS Dynamics GP vendor, PO, and receipt data. An integration eliminates the need for double or even triple data entry.
Intelligent document data capture can automatically recognize and assign vendor ID, default GL and other vendor/invoice information.
“Organizations with document management systems reported 30% fewer errors than their competitors… contributing to a 10% reduction in overall operational expense for document processing in the past year.” -Aberdeen Group
Eliminate demand for physical storage space
An effective AP Processing integration will enable you to store all invoices and supporting documentation in one database – including audit trails and notes – and access them directly from your ERP system. Files can be stored according to your business regulations or requirements ensuring compliance and eliminating the need for costly storage space, printing and file destruction costs.
Access critical data instantly
To improve operational efficiency, vendor relations and customer service, integrated systems make it easy to instantly locate Accounts Payable invoices with supporting documentation. Documents can be retrieved, viewed, printed and emailed from any computer.
With a complete audit trail and notes all instantly accessible, each employee has access to the data they need to get their job done effectively. Being able to access all data from one cloud application means your employees have the ability to work from multiple devices and physical locations.
With user permissions assigned, it also means they have access to all of the information they need – wherever they may be, across the globe.
Address your business needs as you grow
It’s important to work with a technology partner who understands your business and has the flexibility to grow with you. Many larger systems are not as agile and don’t have the cost and flexibility benefits of cloud-based models.
Make sure you can take advantage of the technology you have in place – whether on-premises or in the cloud. Having a partner who can help establish best practices before implementing a new system can ensure you reap the rewards of new technology.
If you are still performing manual data entry, you are only half way to achieving the real benefits of your MS Dynamics GP system. By finding the right integration partner, your base hit can turn into a Grand Slam – with minimal upfront cost and a whole lot of upside potential.
Want to learn more? Take our 4-Minute AP Automation Tour to see how DocStar ECM AP Automation will help you work faster and smarter!