Microsoft Dynamics GP and AP automation go hand in hand. With the right solution, you can automate AP processes without changing your Microsoft Dynamics GP system, reducing the time and effort required for manual data entry and empowering your team to concentrate on more crucial responsibilities instead of being swamped with manual data entry tasks and vendor bills.
With an abundance of business process automation and enterprise content management software on the market, finding a partner who can help maximize your Dynamics environment is essential. With the perfect match, you can boost efficiency, minimize errors in invoice data, and streamline reporting, for accelerated business growth.
Read on to learn the core benefits of accounts payable automation software for Microsoft Dynamics GP users and delve into real-life case studies showcasing the impressive capabilities of this integration in action.
Microsoft Dynamics GP is an accounting and enterprise resource planning (ERP) software program that helps mid-market businesses keReducing Procure-to-Pay Processing Time for Increased Efficiency keep track of their finances and resources.
The software program stores information in a database managed by Microsoft SQL Server and is part of a suite of computer programs known as Dynamics 365.
To optimize your investment in Microsoft Dynamics GP, it’s crucial to focus on five critical areas of AP automation that can enhance collaboration, streamline processes, save time, reduce costs, and boost overall productivity. Let’s take a look at each of these in turn.
Efficient AP automation systems will seamlessly and securely capture, process, and direct vendor invoices without manual tasks and intervention. Invoices can be systematically indexed through customized workflow rules and accurately matched against relevant Microsoft Dynamics GP data for vendors, purchase orders, and receipts.
Accounts Payable (AP) processing integration enables businesses to unify all invoices, supporting documentation, and audit trails within a centralized database, acting as a single source of truth. This is effortlessly accessible through Microsoft Dynamics GP.
By utilizing this centralized storage system, companies can ensure compliance with financial regulations, reducing the risk of fines and penalties. They can also reduce storage, printing, and disposal expenditures related to paper-based processes.
AP automation harnesses artificial intelligence and the power of intelligent document capture to revolutionize the way you manage vendor and invoice information.
The system automatically recognizes and captures line-item data from paper documents, converts them into a digital format, and assigns essential details such as vendor ID, default General Ledger (GL) accounts and other pertinent vendor information.
Integrated Accounts Payable (AP) systems enable swift access to invoices and their corresponding documentation, enhancing operational efficiency, vendor relations, and customer service. Documents can be easily accessed, viewed, printed, and shared from any computer while maintaining audit trails and revision histories to ensure stakeholder alignment and accountability.
Cloud-based solutions empower employees to work seamlessly from various devices and locations while robust user permissions and access control guarantee secure access from any mobile device across the globe.
AP automation provides real-time visibility into the entire AP process, empowering managers to make informed decisions and exert greater control over their operations. With access to critical data at their fingertips, they can quickly address any issues and ensure the smooth functioning of their AP teams and processes.
DocStar is helping numerous industry-leading companies extract maximum value from automation for Microsoft Dynamics GP. Let’s take a look at some examples.
Gillette Pepsi supplies 670 brands to thousands of restaurants, grocery and convenience stores, and shops throughout southern Minnesota, northeast Iowa, and southwest Wisconsin.
Using DocStar ECM AP Automation with Dynamics GP, Gillette Pepsi has been able to migrate from paper to electronic invoices–and the results have been dramatic. The company has reduced its AP processing time by 25% and average invoice turnaround time by 40%. Now, a single person can efficiently process 500 invoices a month.
DocStar has also increased the accuracy of Gillette Pepsi’s purchasing and payments activities, giving the company a firm grip on inventory and improved cash flow. Now, Gillette Pepsi pays all vendor invoices due at any time while taking advantage of early payment discounts.
Health Food Associates, which owns and operates 16 retail locations under the “Akin’s Natural Market” and “Chamberlin’s Natural Market” brands, has successfully streamlined its accounts payable (AP) process by integrating Microsoft Dynamics GP and DocStar.
The company has reduced time spent on invoice transactions and enabled easy access to past and present work in the queue. As a result, the company now devotes more time to verifying vendor pricing accuracy and other cost-saving activities.
Automatically coding invoices with individual store information has minimized manual errors, contributing to a 25% reduction in the time it takes to send vendor payments and disburse checks. Health Food Associates now efficiently processes 4,000 invoices per month.
Hanor Family of Companies, the tenth largest pork producer in the U.S., has significantly improved its accounts payable (AP) processes by integrating Microsoft Dynamics GP and DocStar.
Before integration, 80-page fax documents frequently congested the delivery of other paperwork, but digitizing AP processes has made them 50% faster. Hanor Family of Companies now uses multiple servers, allowing the company to receive numerous separate documents for invoice transactions and pay vendors simultaneously, eliminating persistent bottlenecks.
The ability to track invoice status across various accounting packages has also proven immensely beneficial, reducing labor requirements, and providing real-time insights into the company’s financial position at any given moment.
Crescent Crown Distributing, the 10th largest beverage distributor in the United States, sells and delivers over 26 million cases annually across seven locations and two states.
Before implementing AP Automation, the company was burdened with manually scanning and entering tens of thousands of invoices and checks into Microsoft Dynamics GP each year.
Integrating DocStar’s AP and payment automation solution has seamlessly streamlined the company’s invoicing and financial processes, boosting productivity through workflow automation.
Crescent Crown Distributing has also gained complete full visibility into invoices, payments, and checks within the system, which is providing a continuous stream of data-driven insights.
Selecting the optimal AP automation solution for your Microsoft Dynamics GP environment is a pivotal decision. But navigating the numerous alternatives available in the market can be challenging.
Thankfully, there are several key considerations to remember while experiencing demos and assessing the various options. These include:
If you are still performing manual tasks and data entry, you are only halfway to achieving the real benefits of your Microsoft Dynamics GP system. By finding the right integration partner, your base hit can turn into a grand slam–with a minimal upfront cost and a whole lot of upside potential. Contact one of DocStar’s Microsoft Dynamics GP experts to find out more.
