Having served companies involved in manufacturing, wholesale/distribution, retail, and other industries with financial automation solutions for more than 30 years, we’ve seen the powerful and multidimensional impact that accounts payable (AP) and accounts receivable (AR) automation technology can have in improving efficiency, accuracy, and cost control.
As demands for transparency, accountability, and accuracy in accounting have increased over the past few years, so has the to help address these challenges.
Consider the added that businesses in all industries are preparing to face. Previously, only unincorporated businesses that purchased $600 or more in services were required to file a 1099 form with the IRS and the service provider. The new rule would now extend to all companies, charities, and state and local governments, and to purchases of products as well as services of $600 or more. The added reporting burden will bury businesses in paperwork, which may stunt hopes for business growth and other planned activities.
Accounting automation technology is available to help businesses track and manage information they can use to address the 1099 challenge and related issues, but it is only part of the solution. Meeting business challenges while affecting savings requires integration between AP/AR automation technology and Microsoft Dynamics GP, AX, SL and NAV to unlock the value of intelligent automation. We’re so convinced of the opportunity for, and value of, intelligent automation that we’ve focused our efforts on this integration and recently launched a program among VARs, referral partners, and systems integrators.
What value does and automation technology offer when integrated with Microsoft Dynamics ERP solutions? Here are three key value points:
- Paper and process efficiency. A combined AP/AR automation and Microsoft Dynamics ERP solution not only affords a paperless operating environment, but can also incorporate workflow automation to expedite invoice approvals and processing, and greatly increase executive visibility to the key financial processes.
- Trusted data. AP and AR stakeholders can enter information once – whether using the AP/AR automation solution or the Microsoft Dynamics ERP – and get one-click “anytime, anywhere” access to trusted data.
- Lower costs. A combined solution enables significant cost savings, presenting opportunities to make Microsoft Dynamics ERP solutions paperless and affording accelerated ROI when compared to standalone Microsoft Dynamics Solutions.
Delivering strategic decision-making confidence to the C-suite is an additional yardstick by which any accounting department’s success is measured. While technology can play a vital role in promoting confident decision-making using trusted data, AP and AR document management technology only works best when it is fully and strategically integrated with the organization’s Microsoft Dynamics ERP.
by Metafile Information Systems,
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More Posts By Nick Sprau, MetaViewer Paperless Automation for Microsoft Dynamics
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