It's a known fact that the manual accounts payable (AP) process is plagued with problems. To help identify pain points related to your AP process, here’s a list of the top five most common pains that plague businesses: Missing invoices. Was the invoice sent by mail, email, or fax? Was it addressed to the purchaser or the AP department? …
ap automation tips
In Accounts Payable (AP), the goal is to operate at maximum efficiency at the lowest cost and greatest speed. While that sounds pretty simple, AP professionals are beginning to acknowledge that in order to achieve this objective, they need automation. As interest continues to grow, we are seeing an increase in misconceptions surrounding AP Automation. To …
Many finance professionals are actively evaluating Accounts Payable Automation. To help you make the right decision, below are the top eight reasons to automate your accounts payable (AP) process with MineralTree. Support more strategic decisions. A study by APQC found that nearly half (49 percent) of a financial manager’s work is spent on transaction processing. In order for finance …
Finance teams are facing pressure to improve their AP processes to increase accuracy and workflow as AP departments are continuing to struggle with one or more of the following inefficiencies: Failure to take advantage of early pay discounts Human keying errors Determining who gets the invoice first Lost invoices Small AP staff High management expectations Does this …
As organizations begin to realize the impact automation has across the business, the accounts payable department is no longer being overlooked. In this webinar, How to Bring Automation to AP, MineralTree’s Sr. Director of Sales, Michael Goldenberg and Product Manager, Andrew Waters, will provide you with the information you need to bring your accounts payable process …
Accounting department decision makers know that their manual Accounts Payable (AP) process is time consuming, labor-intensive and risky. But, in order to bring the finance department into the 21st century with AP automation, you have to evaluate a number of solutions on the market, some of which don't even work with your ERP system. It's important to have a …
MineralTree published an infographic showing a comparison of automating Accounts Payable versus manual processes. Many finance and accounting professionals are aware that the benefits of a fully automated Accounts Payable process extend far beyond added fraud protection and a compelling ROI, but did you know that Accounts Payable professionals who automate invoice capture and payments save an average of one hour …
“What will my ROI be after implementing AP automation?” That’s one of the first questions asked by AP managers or CFOs interested in e-invoicing or AP automation solutions. It’s a tough one to answer, and not because it is hard to calculate. After all, we have a new AP automation ROI calculator that can give …
Filing Away Inefficiency: The ROI of Electronic Invoicing Read More »
While there are plenty of AP invoice automation solutions within your reach, why not dream a little bigger? Imagine next year with not just an AP solution but a comprehensive procure-to-pay suite that both increases efficiency and reins in spend. Imagine a unified solution for eProcurement, vendor contract management, AP invoice automation and expense reporting. …
Begin 2015 with an Accounts Payable and eProcurement Solution for Dynamics GP Read More »
It’s been a while since I posted on this topic, so here’s a little recap of the first 4 pitfalls: Know your environment –Look inside your company before looking outside. Select a service provider – There are a few things you can do to make sure you get the right automation partner. Get organized – …
