When thinking about automating back office processes the immediate ones that spring to mind is Accounts Payable. Invoice and data input, matching to lines on PO and delivery notes, chasing approvals and making payments, all whilst trying to communicate with suppliers and build relationships are all every day mundane tasks performed by the AP team.
The Holistic Approach to Automation
Looking at the pain points and bottlenecks and going one step further with the automation to make it an all-round process from the initial idea of a purchase, right through to paying the invoice.
We have published a whitepaper that talks through the benefits of efficient streamlined processing in procurement and accounts payable individually and how integrating the processes of procurements and AP through one single solution brings an even greater advantage to an organisation.
What do we Cover in Our Purchase to Pay Whiteboard?
We cover the typical features of an ‘all round’ purchase to pay solution and talk about how it is no longer the provenance for large organisations due to the evolution of design and development of flexible modular software, smaller businesses can benefit from purchase to pay automation too.
With a purchase to pay system, organisations can streamline and control purchase selection, ordering and receipting, while automated invoice matching eliminates many of the issues preventing efficient processing in the AP department. The procedure is fully audited, with visibility across the process.
Where solutions are built on modular software, the platform provides the potential to leverage on investment and extend the benefits of digital document management and automated workflow to further finance functions.
Expenses and credit card statement processing are two additional business areas which benefit from automation and working with a solution provider that can provide integrated or bolt-on modules to enable the workflow solution to include these as an extra part of automation.
Based on the platform, digital processing can also be implemented in separate corporate areas including HR and customer services, using the same software solution.
For the full whitepaper, download here.