Although our society is moving rapidly to the Internet for communication and connections, one area in which we are lagging is our continued dependence on direct mail. In 2012, the United States Postal Service processed 160 billion pieces of mail and was responsible for
For years, accounts payable and accounts receivable departments have relied upon paper for invoices. Entering all of the invoice data manually is a time-consuming and detailed process, with much room for error. Paper processes can generate uncertainty and blind spots in a business. Accounting has no way to know on which desk, in which office, or where in the mail system a paper invoice resides after it is sent around nor how long it will take to process. Business decision makers are unable to make accurate financial predictions because they see only completed transactions—not those in process, floating somewhere in the company’s structure or in the mail system. Paper is the natural enemy of efficient digital technology, sapping time, accuracy, and efficiency from the organization. When businesses store their data on voluminous quantities of paper, that information cannot be shared, managed or acted upon efficiently.
However, by implementing a
Those who have eliminated paper throughout the accounting process have rapidly discovered the immense improvements in accuracy, speed, and productivity that Paperless ERP solutions provide when integrated with existing Microsoft Dynamics ERP software. Paperless ERP is a spectacular solution for managing data generated within the organization and can help to decrease the amount of mail sent between various office locations. However, processes like accounts payable inherently involve external suppliers and those vendors may still be using paper. As a result, the company must find an effective way to transform the data on invoices and related documents into digital form.
Traditionally, companies have not been equipped with an extensive array of external tools to support this work, and in many instances they have not been able to persuade their vendors to send their invoices digitally. Therefore, invoices arrive in the format that the vendor prefers, and it’s left to the company to standardize the information in a way that it can be managed and manipulated by ERP.
If yours is a major global company with hundreds of vendors and clients, the paper invoices can be limitless. With a Paperless ERP solution, however, all that’s required is for the vendor to send the invoice in a PDF format as an attachment to an email. Once the solution receives the PDF, the document’s information is easily and precisely read, routed and approved digitally. By encouraging vendors to send their invoices by email, your AP/AR department will have even less mail to manage.
Surviving without the stamp and decreasing your company’s reliance on paper can be a reality with all of the great solutions available to help streamline your AP/AR department. If your business is still processing all of your invoices by mail, take some time to consider how a switch to paperless can not only allow you to stay ahead of government changes but also help your business become more efficient, impacting the bottom line.
Vice President of Marketing
Metafile Information Systems