- Better time management. By implementing AP automation, the organization has made their accounts payable processes more efficient. Accounts payable employees are able to reallocate their time to doing more crucial tasks, and they have now reduced the number of people processing payables from, at times, as many as four accountants, down to one.
- Increased visibility into the invoicing process. Executives now have more insight into what’s going on in the invoicing process and which invoices are still waiting for payment. Document management also keeps the payables team accountable as they can take advantage of the audit trail available with document management and see where invoices are in the payables process.
- A paperless office. The company went into the implementation of AP automation with the goal of getting off the paper trail. Vendors no longer need to mail paper documents and, instead, can send them to an email box where the document management solution's automated workflow takes over.
- Invoices area easily accessed. Employees at the livestock nutrition company no longer have to search for documents in a cramped paper filing cabinet, as they are now easily retrieved from electronic storage instead. The documents can even be keyword searched for retrieval, similar to a search engine like Google or Bing.
The company has also gained better relationships with vendors. Now that vendors are being paid on-time, they no longer have to call in to request payment. Everyday processes are simplified and the AP department has more accountability and is able to be proactive in managing invoicing.
Any company can reap the benefits of a document management solution and create a healthy and efficient AP department. What success could your organization report with the help of AP automation with your Microsoft Dynamics ERP?
by Metafile Information Systems