Leading Business Process Automation Software Accelerates Accounts Payable and Supply Chain
Invoice Workflow Automation Delivers Benefits Beyond AP
People fear change. It’s natural, even when that change will bring significant benefits to their organizations and their personal lives. “New” seems scary just because it’s different. Accounting teams often feel the same way about changing the manual accounts payable (AP) process to an invoice workflow automation (IWA) solution. Even though they believe that if they take one more angry vendor phone call, they plan to throw in the towel. Automation provides visibility into the entire document life cycle – whether AP or other manufacturing and supply chain specific processes. When change is done for the right reasons and the solution is properly implemented, the benefits are endless.
An accounts payable automation solution will streamline the process and remove roadblocks, while increasing efficiencies. The right partner can help show you how and ultimately implement a solution that will:
- Increase efficiencies in your AP process and across your organization
- Improve employee productivity and reduce their stress
- Reduce data entry errors and approval delays
- Recover time and money with early pay discounts
- Avoid lost documents and late payments
There are many factors to consider when implementing an invoice workflow automation process. How are the invoice documents received? Do they arrive in a mail room or an email box or a combination? How many people need to approve invoices, and at one or many levels? Do those approvers have web or email access to review and approve invoice documents and data? And, does this invoice workflow solution integrate with your ERP system? Finally, how does the new process support financial and compliance audits?
The latest PayStream Advisors report, 2017 Invoice Workflow Automation Report explores these considerations as well as the research results of hundreds or organizations facing the challenges of manual processes. And once you have tackled the stressful, time-consuming accounting processes, we’ll share the same success with areas such as human resources, expenses, sales orders and supply chain processes.
Download and read the report here to learn the current state of AP and how your organization compares to others. All of this, with as close to real-time data as you can get. For example, this chart from the PayStream report shows the most common challenges that organizations face in accounts payable today.
Download the Invoice Automation Workflow Report, and then contact KwikTag for guidance in making your case for AP automation. With over 20 years of experience helping people go paperless and increasing efficiency, we have the expertise to help you and your organization achieve success. Learn how KwikTag can help with your AP automation.