Well, actually, you can use emails for invoice approvals. The ESIGN Act outlines that electronic approvals are legal. But that is not the real issue with using emails.Read More
Your Document Management Knowledge Center
We still hear people worried about using an electronic process for approving invoices for payment. One of their greatest concerns is keeping paper copies of the invoices. Someone has told them that it is a legal requirement. We have even seen people print invoices that were sent to them electronically just to have a paper record. We have some good news for you. We are going to let you in on a big secret. Electronic records, approvals, and signatures are legal and have been for over 20 years.Read More
We still hear people worried about using an electronic process for approving invoices for payment. Below are a few of them.Read More
Seems like a simple question. Why would you want to give your money to your vendors faster? Shouldn’t you hold on to your money as long as possible? Well, it depends. Each situation is unique, but here are a few reasons why:Read More
- Communicate with your team more often
You no longer see them in the break room or pop by their desk so you are missing those informal conversations where you learn more about each other and you also solve challenges that you are stuck on. It becomes easy to get disconnected. Take the time to chat with each other, you would be doing it at the office, so keep doing it now. Most teamwork tools allow you to chat, call, and even video call. Use the tools.Read More
When people hear “Accounts Payable Automation” they think jobs will be eliminated. They think that there is no need for an AP team, since everything will be automatic, or they can cut the team AP in half because there is very little else to do. We have not seen this to be true for small to medium sized businesses. There are many factors that contribute to this. We have outlined a few of them below.Read More
Accounts Payable (AP) departments are increasingly expected to drive savings and contribute to an organization’s bottom line by avoiding penalties, capturing discounts, and lowering labor costs.
The most effective method for an AP department to accomplish this is through an automated accounts payable process. However, the average AP department typically uses an ineffective manual process with little to no automation.
The difference between the two in terms of cost reduction and profitability can be staggering.Read More
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.
Bill collection. Does that phrase send shivers down your spine? It probably does for your account reps. When your accounts receivable management (i.e., turning orders into cash) is inefficient or susceptible to error, your entire business is thrown into disarray. The accounts receivable process is the backbone of your organization’s financial stability. But it’s more than that, too: It’s the difference between employment enjoyment and occupation frustration for your AR team.