Accounts Payable Automation

Manual A/P processes increase chances for mistakes, delinquency and non-compliance. A study by The Aberdeen Group found that a single invoice can require up to 41 days for processing in a manual, paper-based environment. Instead of focusing on revenue-generating activities...

Manual A/P processes increase chances for mistakes, delinquency and non-compliance. A study by The Aberdeen Group found that a single invoice can require up to 41 days for processing in a manual, paper-based environment. Instead of focusing on revenue-generating activities, accountants have to track down paper invoices, physically submit documents for approval and compile timeconsuming reports... and all this effort still isn’t enough to ensure timely payments!

An automated, digital A/P process reduces processing time, streamlines reporting and increases oversight through immediate access to information. In fact, a recent Institute of Management & Administration (IOMA) study found that A/P staffers with a high level of automation at their disposal can process more than twice the invoices than those with fewer automation tools.

by Bryan Belden
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