Today I am going to talk about an accounts payable (invoice) automation project we recently completed.
I'll start with an overview of the process and then go into some details of how we accomplished these tasks using our software. All of the customization discussed here can be done by any knowledgeable computer user. There was no programming required, but scripting was required for some functionality.
No matter what kind of business you have – construction, marketing, home decorating, professional services, retail, manufacturing or industrial, you name it – you have bills to pay. It’s the (oft-unpleasant) nature of the market: Every company is “chained” to an accounts payable process.
Paper is out; automation and digitization are in. No surprises there: Just look at the publishing industry and think about the last time you actually read a newspaper., the ever-surging dominance of online communication has virtually eliminated cards and letters, and yet accounts payable is still stuck in the 80’s or even earlier. Yes, accounts payable management is no exception when it comes to process improvement via automation, digitization and cloud-based innovation.
How do you streamline your accounts payable process? Here are three big-ticket tips to transforming your accounts payable process into one that slims down resource usage and beefs up that bottom line.
All business owners are concerned with the money flowing into their companies, but what about the money going out? The accounts payable manager has the task of making sure money is flowing out of your business accurately and on time.