Accounts Payable Process Automation Guide – Download White Paper
Cleardata has created a white paper guide to invoice process automation. The guide aims to help your business identify potential problems that your AP team may be facing in regards to invoice processing and provides solutions on how to overcome these challenges. It also includes information on selecting the right processing approach, making invoice management a problem of the past.
Here’s a snapshot from the white paper, giving a quick guide on where to start with your invoice automation.
Processing invoices is an important task but it can be a very long and tedious procedure for members of staff in the Accounts Payable department. A lengthy invoice processing system using paper based documents can have a negative impact on your company.
Key benefits in automating the process of your invoices include:
- Employees save time in manually processing documents and to pursue more meaningful tasks such as invoice chasing, authorisations, monitoring prices and supplier relations.
- Saving a significant amount of money – as it’s proven that manually processing an invoice is up to 20 times higher than with accounts payable automation
- Reducing human errors within documents – specialised software can improve data accuracy by 99.9% whilst improving the processing speed
- Increase your business’ performance – eliminating the risks of non-compliance, lack of cash visibility, dented profitability and late payment penalties
- Enabling you to pay your suppliers on time – Not only will this improve customer/supplier relationships but increases the proportion of invoices that are paid within 30 days with the government’s new ‘Duty to report’ payment practice policy
- Saving valuable office space and creating faster retrieval by searchable documents
See how Cleardata helped a large online retail group overcome their invoice management problem and allowed the company to redeploy six employees on more business critical work.
If you haven’t already, click here to download “A Cleardata guide to accounts payable process automation” in order to make your way to a paperless and efficient future.