If the costs and complexities of the transaction lifecycle are becoming an increasing burden on your company’s resources, consider changing the way your do business. By utilizing an automated accounts payable workflow and central dashboard, you can automate the processing of PO and non-PO invoices, transferring directly into the ERP of your choice, reducing costs and increasing efficiencies.
Ideally, the elements of such a process should include:
- AP Workflow, which automates the processing of PO and non-PO invoices with flexible workflows and a central dashboard.
- Two-and-three-way PO matching, which can handle matching against purchase orders at the header or line level. Any exceptions are flagged for reconciliation.
- Recurring invoices and contracts, which are matched to account numbers or contracts, posted to the proper accounts and approved for payment.
- Archive and audit, a step-by-step, documented history of invoice transactions is recorded, including communications between internal staff and suppliers.
AP workflow should also be complemented with a complete, end-to-end centralized mailroom and invoice processing service. Such a system could reduce your costs by up to 60 percent, enhance information control and regulatory compliance and significantly increase invoice turnaround. Consider finding a reliable provider of AP automation for your organization and see how your bottom line benefits.