Speed Up Your Accounts Payable
Whilst everyone has their own methods of processing invoices there are some key concepts to speed up the process.
Ask yourself these questions and see if your organisation is ready for an Accounts Payable Solution:
1. Have your vendors started sending digital invoices?
This presents a real opportunity to advance from paper to paperless processes. But most companies fall back into their old ways of printing invoices out.
2. Has your process grown into something unmanageable?
There can be many pressures from vendors and the organisation to pay invoices quickly, resulting in complex processes for approvals.
3. Can you negotiate payment discounts for on time payments?
Making payments on time can be a real challenge if the process is paper based and lengthy.
4. Do you have costs for physical storage?
With legal requirements for document retention, storing and maintaining physical documents can be costly, even when using your own space.
5. Are you concerned about what you find if your process was ever audited?
Documenting can be the first step to improving efficiency and understanding your compliance.
If you feel like it is the right time to innovate, contact us and make an appointment for a Discovery Analysis today.