So, How Does AvidXchange Help the AP Manager?
It’s the AP Manager’s goal to ensure payments of vendor invoices and expense vouchers are timely while maintaining accurate records and control reports. As a supervisor, the AP manager is responsible for making sure the AP team is performing their duties efficiently. In automated AP processes, the AP manager can easily approve payments in batches and be alerted automatically when any issues surface, such as payment disputes with suppliers.
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This gives the AP manager time to focus on higher-level tasks such as overseeing and developing the AP staff and keeping up with the latest technological and financial advancements. Other tasks the AP manager can focus on? Researching solutions that can save the organization money, such as dynamic discounting or supply chain financing, or even bringing in added revenue, such as p-card rebate programs.
Check out this video to see how it benefited Brian Wilson, AP Specialist for Carr Properties:
An Easier, More Efficient Approval Process
AvidXchange makes the payment approval process easier and more efficient for AP Managers. During the implementation process, AvidXchange works with AP managers and their team to understand their current approval process. Then, they build that approval process into their rules-based workflow.
Once the workflow is established, then the invoice is automatically routed to the appropriate people for approval when it’s received into the system. The approver then looks at the invoice within the portal, and can either approve it or dispute it.
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Happy Manager, Happy Team!
For clerks and other members of the AP team, automation minimizes the need for manual tasks such as data entry, handling and filing physical documents, looking up each TIN individually, and printing checks. Clerks can focus instead on more important tasks such as verifying data for accuracy, handling exceptions, answering questions from suppliers, maintaining the master vendor file, and analyzing numbers.
No longer does a team member need to worry about fixing data entry errors and transpositions. AP automation reduces the frustration of manually working through exceptions and eliminates repetitive and time-consuming tasks for every member of the team.
Check out more info about how AP Automation can change your work life…