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Currently Browsing Tag: Invoice Processing

Automation Benefits AP Department Performance

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When a company increases accounts payable it generally means there is also an increase in products or services. Businesses should aim to increase efficiency while also increasing output. A common predicament is having to deal with the growing number of transactions without losing productivity. A recent survey conducted by the Aberdeen Group reported the following: 42% of respondents stated that they need to be able to better manage their growing number of transactions 35% said they needed to “expedite financial information delivery” 40% listed the need for real time availability of data as a major challenge 33% had problems processing … Continue reading

7 Reasons to Automate AP to Improve Cash Flow

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Automate the AP process to gain control, increase visibility and reap the benefits of improved invoice management What is the greatest time-saving invention of all time? Search online, ask your co-workers and you will find many answers – from the wheel to the telephone, the Model-T Ford to wireless technology. Whatever your choice, each of these inventions saved us time by shortening the distances and connecting us to family, friends, work and play. Luckily, these inventions continue to spawn new ideas and new ways to save us time and energy. In the 21st century we now have electric cars, laptop … Continue reading

How to Take Advantage of Early Payment Discounts

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Not too long ago we discussed how to avoid a late payment and how AP Automation can manage the entire payment process quickly and accurately, thereby avoiding past due accounts. And as beneficial as avoiding a late payment may be, taking advantage of early payments may prove to be the next step in good business decisions. According to Scott Pezza on, if, in fewer than 10 days, your business can get an invoice to accounts payable, confirm the bill’s accuracy, obtain approval, and initiate payment then it may be worthwhile to pay in full ahead of time for an early … Continue reading

Using a Phased Approach for AP Automation for Success

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More and more C-Suite financial leaders are focusing their attention on Accounts Payable. CFO’s are searching for ways to automate the process and bring more value to the activities and people involved. But AP automation can seem mysterious and complex without a clear roadmap to guide your direction. One way to go is to use a phased approach that starts with the basics and then expands to more advanced techniques. Begin at the Beginning While there are a great many capabilities and technologies available, the truth is that not everyone needs a fully-encompassing AP automation solution right out of the … Continue reading

Why Your Company’s Innovation Goals Should Include Automating Your Invoice Processing

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Companies need to harness new technology to simplify outdated processes and take advantage of increased agility. The best part of every Halloween movie is always the same. You can see the moves the victim should make – “Open the door!” “Move to the next room!” “Get out of there!” and while you scream at the TV – no one can hear you. The helpless victim just can’t find the best way out of a bad situation. What’s seen as fearsome entertainment in the movies during Halloween season brings to mind the plight of businesses that can’t seem to navigate their … Continue reading