The time of paper is passed. Not only does it introduce all kinds of inefficiencies as well as drain your team with endless tedium, but it also exposes your accounts payable processes to greater risks of fraud. Despite what you may hear on the news, the fact is that it’s much easier to forge a signature on a check or invoice than to hack I.T. systems. One of the best ways to bring true accounts payable process improvement to your organization is to turn to accounts payable automation.
You can use automation to bring your accounts payable process out of the paper age and into the digital age with paperless invoice processing, automatic online payments, and even automatic procurement. The key to getting all these features is to find solid accounts payable automation software. This can allow you to digitize your paperwork and create automatic workflows saving your accounts payable team time and money. You don’t have to waste any more time with excessive paperwork or spend money on costly ink and printing materials. With the best accounts payable automation software, like the software from AvidXchange, you can completely revolutionize your accounts payable processes, freeing up your team to work on more rewarding and strategic initiatives.
In selecting your accounts payable system, you want to ensure that you make a great choice. Some accounts payable solution providers focus on offering accounts payable software for large businesses or enterprises. For a middle-market organization, these solutions can be far too expensive and are often not designed to meet the specific needs of your business.
Accounts Payable Process Improvement Ideas
The best improvement ideas follow accounts payable automation best practices. That means ensuring that you can find a trustworthy, stable solution provider that has years of experience and has been trusted by many different organizations in a variety of industries. For example, AvidXchange is just such a provider. Our solution complies with and exceeds all the best practices in accounts payable processes.
Process Improvement Ideas For Invoice Processing
Imagine for a moment that there you never had to process another invoice manually again. With a paperless accounts payable system, that’s possible. The way it works is simple. As soon as a paper invoice comes in, it is scanned into the system. From there, automation takes the wheel, and the data is entered, checked for errors, and then automatically routed to the appropriate person in your organization for approval. The best accounts payable automation software also allows you to customize your own approval workflows for your invoices as well as ensure that approved invoices are automatically sent straight to your accounting system for payment processing. This is the power of automation. No more carrying paperwork from desk to desk and office to office. No more misplaced invoices or having to wait on mail couriers delayed by bad weather. Process your invoices instantly and easily with paperless invoice processing that follows all invoice approval best practices.
Accounts Payable End-To-End
The big picture is a little more complicated. The accounts payable end-to-end process in SAP, for example, requires you to keep multiple separate teams whose sole responsibility is to manage, track, and record various items of paperwork. Don’t make your new employees spend hours reading an accounts payable procedures manual. Automation makes everything simple. Using a software solution such as the one provided by AvidXchange, you can automate the entire end-to-end process, from procurement to payment processing. This means that your accounts payable department doesn’t have to spend their days doing paperwork and can focus on activities that are more important to the growth of your business.
How To Simplify Accounts Payable Process
What your business needs is a solution that will make the entire accounts payable process simpler at every point along the accounts payable invoice processing flowchart. You may be wondering how to keep track of accounts payable, but the answer is simple: automation. AvidXchange provides an accounts payable solution that will not only make your processes simpler but will also provide you with actionable insights and ensure that everything is automatically tracked and recorded for auditing purposes. If you are not yet sure how to manage accounts payable effectively, try automating your processes. Having one digital place to see everything makes management easier than ever. Moving paperless is truly one of the best ways to make accounts payable more efficient.