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Increase Profitability with Accounts Payable Automation

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.

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Accounts Payable Automation

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.

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The Age of Paperless Office Software: What’s Your Accounts Payable Process?

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.

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Automated Accounts Receivable Management: Do the Order-2-Cash Dash

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.

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3 Secrets to Streamlining Accounts Payable Management

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.

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Accounts Payable Software Benefits to Maximize Your Company’s Value

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.

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A Struggling Accounts Payable Department Finds Success

According to a study done by the Accounts Payable Network, the three major challenges facing Accounts Payable departments during a struggling economy are:

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