Don’t Do These 13 Things If You Want Your Business Process Automation To Be Successful

Business process automation

Business process automation (BPA) is a strategy that can yield tremendous results when implemented correctly. But despite the fact that many automation software providers have made their products easy to set up, some businesses are still getting it wrong.

How should you approach business process automation? What should you do and what should you not do? Who should be involved and why? If you find yourself asking any of these questions, read on. We’ve got you covered.

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15 Tips For More Efficient Accounts Payable Workflow Management

Workflow management

Your accounts payable department is responsible for vendor invoice processing, approval, and payment. Within these functions, there are several different workflows, and to manage these workflows effectively, you need to be equipped with practical ideas. This guide contains some nuggets of wisdom to help you manage your accounts payable workflows for better performance, increased operational efficiency, and a better bottom line.

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Going Paperless: The Smart Guide to Cloud Storage

Cloud Storage

Did you know that paperwork is a major productivity killer in the workplace? Not only can it sabotage your efficiency, it’s even expensive to manage. Yet studies reveal that the average American office worker uses about 10,000 sheets of paper per year. This is an alarming figure, considering the availability of advanced technology in today’s world. It seems like things are particularly designed to help businesses go paperless.

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Is This The Secret to Seamless Invoice Matching?

Invoice matching

“Accounts payable invoice matching” refers to the comparison of prices, quantities, terms, and other relevant information appearing on an invoice with the information on the purchase order (PO), the goods received note (GRN), and the acceptance or inspection documents. It is usually performed for goods and services ordered through a PO, and is one of the basic steps in invoice processing, necessary for an invoice to be deemed eligible for payment.

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A More Efficient Way to Manage  Your Accounts Payable Documents

Document management

Accounts payable is particularly a document-heavy department. Whether you’re dealing with vendors or upper management, there are usually tons of documents to process and approve, like vendor invoices, reports, purchase orders, and so on.

To work efficiently, you need to be able to manage these documents well. Otherwise you’ll be faced with a business process that holds you back instead of propelling you forward.

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How To Save Your Accounts Payable Team From Late Payments Once And For All

Late Payments

Your organization’s accounts payable (AP) operations can have considerable impact on your overall success. This means you should follow modern business practices in order to make a mark and stay ahead.

One such practice is to pay your vendors accurately and on time. Late payments can result in a number of problems, including:

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The Shocking Truth About Manual Invoice Processing

Invoice processing

Are you still dependent upon a manual system to process your vendor invoices? If so, not only does it mean your system is obsolete, but you’re simultaneously putting yourself and your business in a disadvantaged position.

Here’s the truth about manual invoice processing: this outdated methodology has been found to have over 101 weaknesses, and all of them contribute to a shockingly poor invoice processing experience. Chances are that if you’re still processing your vendor invoices manually, you are encountering these classic problems and harming your productivity. Below are some of the drawbacks associated with manual invoice processing techniques, an explanation of how such techniques have been undermining your accounts payable (AP) processes, and why you need to ditch them ASAP.

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7 Common Misconceptions About Workflow Automation

Accounts payable automation

There’s been a lot of talk lately about the power of workflow automation and what it can do for a business. However, some companies are reluctant to embrace this phenomenon.

Why would an innovative organization in the 21st century ignore a concept that’s easy to implement and yields tangible advantages? The answer has to do with common misconceptions and myths that have arisen over time.

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A Step-By-Step Guide To Automating Your Accounts Payable Processes

Step-by-Step Guide to Automating your Accounts Payable Processes

We’ve already given you 15 reasons why you should automate your accounts payable (AP) processes. It saves time, reduces costs, leaves your employees free to do the more-pressing tasks they need to tend to, and so on.

In today’s post, we’ll take you through the step-by-step process to go from a paper-based accounts payable invoice processing to a fully automated system. It’ll go off without a hitch once it’s set up, but first, let’s start with the basics.

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Is One Of These 7 Accounts Payable Mistakes Holding Your Business Back?

Accounts payable mistakes

Accounts payable invoice processing may not be the most exciting task in the world, but it remains an essential one for every organization that wants to pay its vendors.

Without managing your accounts payable (AP) methodology effectively, you can too easily lose value on your team’s effort, mistakenly cost the company literal money, or even damage your professional relationships.

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15 Reasons Why You Should Automate Your Accounts Payable Workflow Today

Workflow automation

It’s time to talk about optimizing one of the least-sexy business processes out there: invoice approval.

When invoices are processed effectively, it directly yields a positive impact on turnaround time, operational efficiency, and your overall bottom line.

Traditionally, invoices are processed and approved manually, but it’s important to understand that there’s a better way to do this in the 21st century and it’s automation.

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