Is your company spending more on accounts payable processes? Considering the time spent on invoice reconciliation and management, it’s no wonder it’s such a bother. Especially when many of the costs can be avoided with automation, going with manual procedures doesn’t make any sense today with the other more efficient method available.
Finding the Right AP Solution
Not all solutions are created equal. When looking for the right solution, you have to look beyond automation to improve the accounts payable process. The solution you choose should not only help you manage paper faster, but should actually streamline the underlying processesfor the best outcomes.
The best practice is to go mobile. Your employees should be able to access vendor data, invoices, and reporting anywhere, anytime. With the ability to approve invoices on the go, business productivity is never interrupted. Automation increases the invoice lifecycle speed with which vendors are paid, eliminating late payments and penalties.
The AP Solution
Automated AP software comes with several benefits which include matching mechanisms, OCR data capture, and more. Matching processes such as one-way, two-way, and n-way allows you to select matching criteria against invoices and purchase orders. Organizations have to set rules for matching mechanisms so they can map invoices against purchase orders. Likewise, these matching techniques allow you to identify duplicate invoices and ones that are not in line with the purchase orders.
Also, OCR technology allows you to capture the purchase order data and to populate invoices. Technology will not only make your job easy,but also ensures the accuracy you need in accounts payable process.
Choosing a solution such as SutiAP will not only improve business processes, but also boost efficiencies. Our solution makes the invoice management process more effective and efficient, thereby adding significant value to the processes.
Besides making the process faster, SutiAP improves the invoice management process by:
Delivering an intuitive user experience
Allowing users to access invoices, PO’s, and payments from mobile
Alleviating the burden on staff to drive efficiency, savings, and insights
Beyond automation, the benefits a company can get from SutiAP include:
Reduced invoice processing timelines
Zero invoice errors
Good supplier relationships
Businesses can see greater efficiencies, improved invoice processing, and increased compliance with AP automation. Also, the AP software will take the burden off the employees, approvers, vendors, and suppliers by providing you a clear insight into every phase of the AP lifecycle.