In a world that’s quickly moving to the digital paperless era, having the ability to streamline your operations by capturing invoices from anywhere is essential to staying competitive. More and more companies are using OCR services to read invoices, extract relevant data and reduce the risk of human error.
Microsoft Dynamics now offers a fully integrated solution through Lexmark to do just that. The antiquated process of keeping track of Accounts Payable using a spreadsheet can greatly strangle your Cash flow in many ways.
Here are 3 of the biggest challenges that strangle cash flow:
No visibility into your company’s spend- How is a company supposed to accurately mange and forecast cash flow if they’re blindly paying bills as they come.
Inability to take advantage of vendor discounts by paying bills earlier.
Working Capital. Its simple - the more people involved in a process, the more that process costs your organization.
So, how do you combat the 3 biggest challenges - Boost transparency and increase cash flow using AP Automation?
Increase visibility into your company’s spend with Dynamics OCR service. How? You have full visibility and control over every invoice that comes in either by fax, email, or paper. As the invoice comes into Dynamics, it is immediately routed to the correct person for approval and can easily be controlled and managed.
Leverage vendor discounts – Some company’s invoices offer a discount when the invoice is paid early. With Microsoft Dynamics, you’re able to see, in real time, the discounts and the deadlines by which they need to be paid to get that discount.
Increase working capital by having the ability to extract the relevant data directly from an invoice and upload it into your ERP system, which greatly reduces the amount of hours to process accounts payable. Having the ability to electronically view, and extract data into your ERP also reduces the risk of human error.
Increase cash flow by automating your AP process. Position yourself for long term viability and improved cash flow through visibility of payment movements in real time.
Please contact Calsoft Systems for any further discussion on automating your process or taking full advantage of Dynamics Technologies.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.