The accounts payable team is an essential piece in the success of your company. The goal of most finance departments, including the accounts payable division, is to process payments and pay bills accurately and in a timely manner. With partial or full document automation, you can greatly improve the productivity of your accounts payable department, and you can save money at the same time. Read on to see the benefits of document management in the accounts payable department, and how it might be the key to improving your company’s workflow.
With full or partial accounts payable automation, invoices can be processed quicker and with fewer errors. Human error is inevitable, but by automating the process there will be less opportunity for mistakes. As a division of finance accounts payable departments’ productivity is judged by accuracy and time efficiency. Employees’ time will not be wasted sorting through files to find the paperwork, and they can better spend their time and focus on tasks that cannot be automated.
Though the time consuming administrative tasks in accounts payable, such as processing process order, requisition requests, and data entry, are necessary, automating the processes lifts these workloads off employees, and makes it less likely for keying errors.
By saving time associated with completing easily automated tasks, your company will be saving on resources and money. Increasing productivity with the same number of employees also translates to added profits and savings for your company’s accounts payable department.
When documents are in physical form, it is easy for them to get lost, damaged or delayed. Employees not only waste time searching for files but if a file gets dropped on the wrong desk, it could greatly increase the time before it is handled. Physical documents are also much more likely to get lost or damaged. Document management software for accounts payable keeps documents safe and secure electronically. It also keeps handlers accountable by leaving an electronic audit trail.
Centric Business Systems employs trained professionals to evaluate your company’s situation and to help determine the best fit for your workplace environment. If you are interested in utilizing the benefits of adding automation to your accounts payable department, contact us today at 877-902-3301.