Accounts Payable Processing – Go Paperless
Accounts payable processing can be labour intensive, especially for businesses receiving invoices and other financial documentation in paper format. Many companies find themselves allocating key members of staff to cope with incoming paperwork and complete manual tasks such as sorting, scanning, data input, validation and approvals.
Paperless accounts payable is faster, more accurate and less expensive than manual processing techniques. It enables staff to concentrate on core businesses activities by limiting the amount of human intervention required to processes documents.
Accounts Payable Processing
- Supplier invoices and supporting documentation is directed straight to Cleardata’s secure scanning bureau for digitisation.
- Data capture software is used to automatically extract invoice data from paperwork, for example supplier details, purchase order numbers and amounts.
- Validation performed against existing office databases, to ensure information is correct before being sent for approval. Rules and exceptions are agreed as part of the project set up.
- Paperless accounts payable, enables approvals, queries or rejections to be handled through a cloud document management system, with no printing costs involved.
- Workflow will route documents to the correct members of staff for action, without delay.
Advantages of switching to paperless accounts payable
- Increase productivity within your AP team
- Reduce processing costs
- Improve supplier communication and relationships
- Quicker payments
- Less errors
Watch Cleardata’s video below to find our more:-
For further information about Cleardata’s Paperless Accounts Payable Processing Services, contact our team on 0800 046 8081.