Issues related to manual accounting processes create a variety of process inefficiencies. They can cause approval delays and late payments, which lead to supplier inquiries and invoice disputes. When adding up the costs of resolving AP process issues, it becomes clear that organizations are spending a large amount of money each year solely on damage control. Workflow automation helps you streamline key tasks and boost operational efficiencies while freeing your people to pursue their core competencies. Intuitive customization and seamless integration with your existing IT infrastructure help reduce total cost of ownership (TCO) and can extend the value of your IT investments.
Microsoft Dynamics GP offers a variety of tools and services to help organizations eliminate paper in their AP departments as quickly and seamlessly as possible. It also offers flexibility to fit to your organizations’ own structural and business requirements. For example, smaller organizations with many different offices and decentralized accounting department would benefit from in-house accounting tools that could be installed in each AP office. However, this same scenario would not be as effective for a large multi-billion dollar company, for which an outsourced mailroom service would be a more viable option. In some cases, an organization might need a combination of both tools. Fortunately, Microsoft Dynamics GP has the scalability to accommodate an organization’s accounting needs according to its size and industry.
- Reduced error rates
- Faster workflows and approvals
- Improved visibility and tracking
- Better deployment of working capital
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Written by Accountnet, Inc.