Businesses can become too preoccupied with the results of past decisions or so worried about the future of their brands, that they’re not making the most of the present. Ensuring there are 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. More over, 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. In turn, maintaining order and organization along each step of the way will allow for faster invoice processing cycle times, reduced errors and improved vendor relationships – all of which lead to reduced costs.
According to research conducted by International Accounts Payable Professionals (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. This may be due to the inability to breakaway from old business practices. However, with the aid of new, easy-to-implement automation technologies, there’s simply no reason why your AP processes should not be modernized.
Allow your business to maximize your most valuable resources—time and money—through the elimination of manual tasks, such as digging through storage to search for existing files. 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.