Organizations are leveraging technology in every part of their processes, so why should the accounts payable department continue working with outdated and time consuming activities all the time? And, why don’t you automate those old-fashioned practices and make the job of your AP department easy. You can transform your AP operations by automating these five tasks:
Sending Mail Invoices
In this 21st century, you expect to track things easily and work with digitized systems rather than paper systems. Sending invoices through mails may not work anymore; you should have digital tools in place to distribute invoices by email including clickable links that allows for instant payments.
Sending Payment Reminder Emails
Sometimes, you have to remind your customers for payments, but it seems you get confused to figure out who gets reminders or how to prioritize your suppliers. Decide if you want to remind people with highest balances or the ones that have been outstanding for the long time. Using accounts payable software, your reminder list can be automated with customized reminders. Ensure everyone gets reminded at the right time so that you need not worry about the payments.
Generate Reports through Data Compilation
Accounts payable is not just about payments, it’s all about reporting how you get it and where it came from. Compiling reports manually not only takes good amount of time, but there is a huge scope for errors. Transforming your AP reporting from manual compilation to an automated tool will give you more control over accuracy and ensures timeless reporting. Also, this would help you in creating and revising reports more easily.
When you automate complete administrative tasks, you can simply focus on building customer relationships and investing in success. Automating AP with online accounts payable software is highly essential because when your customers encounter problems with their payments, it reflects badly on your organization.