Did you know that by using important finance information already in Dynamics GP and pushing the boundaries of process automation, you can increase productivity, efficiency, and control over your AP processes?
You can quantify the real business impact AP automation has throughout the invoice lifecycle due to:
- Reduced error rates
- Faster workflows and approvals
- Improved visibility and tracking
- Better deployment of working capital
Controllers have realized the detriments of paper-based accounts payable processes, and the benefits of document management to help curb these challenges. Document management/ AP automation solutions utilize optical character recognition (OCR) technology, which automates the capture of data from invoices and other documents. This means that paper does not need to be scanned and information entered manually. When this information is extracted, the solution matches all related documents to a transaction and links it to the information within Microsoft Dynamics GP.
AP automation automatically routes documents to appropriate staff members for review and approval. This is based on your organization’s unique business rules and can be adjusted. As documents are being automatically routed, document management also allows for real-time visibility into the process. Managers and executives can see the status of invoices, identify bottlenecks and improve their decision making. This all comes together in the seamless integration of a document management solution with Microsoft Dynamics GP. It eliminates manual data entry and consolidates all financial documents into a streamlined paperless business process.
Microsoft Dynamics GP helps you gain deeper business and risk insight from internal and external data. A more comprehensive approach improves the accuracy and integrity of insight that you can gain with actuarial, financial, and operational risk. Microsoft Dynamics GP delivers breakthrough insight into business performance and profitability, improve combined and loss ratios, and provide an integrated view of enterprise-wide risk exposure. For more work flow related to AP across multiple departments, the Reqlogic Vendor Invoice module maybe more suitable.
As a Microsoft Gold Certified Partner, Accountnet helps companies get up and running with Microsoft Dynamics. We don’t just install and configure the software – we train your accounting staff to use it to create the reports they need, so they can analyze data as needed. Our solutions provide managers and accountants the information they need to do their jobs well — wherever they are, in whatever application they choose to use. Take the next step towards growth with Microsoft Dynamics GP.
Written by Accountnet, Inc.