Why AP Automation and Expense Management Go Together Like Peanut Butter and Jelly
Top considerations as you evaluate multiple software apps for financial processes versus one system
Accounting and finance teams are among the busiest people on the planet. Here’s the thing – a lot of their work is manual, redundant and very time-consuming. This is primarily because they still manage a lot of paper. Invoices, receipts, expense reports, checks and supporting documents are just a few examples.
When organizations that face this challenge decide to begin their digital transformation and automate these processes and departments, here are a few important considerations:
- Adopting a new system takes time, so make sure it is easy to use and presents a user experience as close as possible to what the team already knows (i.e. Dynamics GP or SL).
- The process extends beyond your organization and includes vendors, partners and contractors, so consider how you will communicate the efficiencies they will gain by sending digital documents instead of paper.
- Find a system that supports both internal AP processes and employee expense reports so you aren’t wasting time and money implementing two different systems.
Once your department or company starts on their digital transformation journey, the last thing you’ll want to do is start over with a new application for each department or process.
AP automation and expense management are both critical back office financial processes. Yet, because they also affect other people – inside your organization and out – it is important to think about the changes others need to adopt so that everyone gets the most value from your new system. Make it easy for them. Share the benefits of visibility, faster payments or reimbursements and the access you will now have to all of the documents that support invoices, expense reports and corporate credit card reconciliation – all in the same system. It’s like having a PB&J when they are made to go together, and work with your ERP system!
Learn how KwikTag can help when you visit www.kwiktag.com.