Manual, paper-based Accounts Payable (A/P) departments are eroding the bottom-line of many small, mid and large businesses. A/P automation offers powerful transaction cost savings and equally import – Compliance.

Where to start your assessment for automation in you’re A/P organisation? There four prime areas to look at:

1.    Receipt: invoice receipt may occur in any one of numerous formats – fax, paper, email, EDI, mail, Excel, HTML Image, XML

2.    Approval and inquiry: once received, an invoice may be processed utilizing rules-based logic to define the appropriate routing and approval workflow.

3.    Validation and reconciliation: the verification of an invoice accuracy and the resolution of any errors, discrepancies etc.

4.    Settlement: payment processing.

Organizations should also consider the following as subsequent needs of A/P Automation:

1.    Reporting and Analytics

2.    Integration

3.    Usability – influencing deployment, adoption and Total Cost of Ownership (TCO)

Finally, avenues exploring what other peers are doing to at their respective organizations are equally important.

What are the key drivers for A/P Automation change?

To learn more about Account Payable Automation, please conatct us at 905.881.6071 ext 259 or info@microdea.com