What’s needed is an automated workflow that can eliminate paper processing, simplify the process and allow your employees to instead focus on your company’s core competencies. An AP workflow solution with invoice capture automates the receipt, opening, scanning and processing of paper invoices. Those images and data are then sent to an electronic invoicing platform to allow for storage and reporting.
Such a solution offers many benefits for organizations struggling with their accounts payable process. Among them:
- The ability to reduce AP-related expenses by as much as 60 percent
- The benefits of line-item detail without the need for internal manual entry
- Significantly accelerated invoice turnaround, which eliminates costly late fees and offers the ability to capture early payment discounts – both of which, of course, improve your organization’s bottom line
- Improved visibility into potential liabilities, all available with user-friendly dashboards that make access easy and convenient
- Enhanced information control, increased security and improved regulatory compliance on the state, national and industry levels
Though electronic invoice adoption continues to grow, many companies are still dealing with the complications and costs associated with processing paper invoices. If your organization is seeking a way to outsource this process in order to reduce expenses and remain competitive, seek out a reliable, experience provider of AP workflow solutions.