What Choices for the Enterprise Report Management Is Important Now?

The manual processes used for accounts payable are very inefficient and expensive. This is especially true if your business receives a high volume of invoices each year.

Cash flow management software automates and streamlines their processing while increasing the efficiency of your accounts payable service. Automation makes scanning, indexing, and billing easy and seamlessly integrates with your existing financial and Enterprise Report Management Systems.

Automated capture, imaging and workflows of paper and electronic documents all contribute to creating a streamlined, highly efficient process.

Companies that adopt accounts payable systems maximize productivity and increase profitability.

Challenges

The high cost of an inefficient accounts payable service is illustrated below:

·         A typical Accounts Payable clerk processes an average of 20 bills per day.

·         There is an average of 16 days for processing a single invoice.

·         Companies can receive millions of invoices a year.

·         If you have not streamlined the accounts payable processing process, you may face the following challenges:

·         High cost per invoice.

·         Manual procedures and inefficient processing times

·         Poor visibility of the company's expenses

·         Inability to take advantage of early payment discounts

These challenges can become even heavier in the case of financial mergers, which make the Accounts Payable Scanning process much more complex. To reduce friction, treatment needs to be simplified.

Solution

Professional services have the expertise to quickly deliver solutions to any organization seeking to streamline and automate its accounts payable processes. The cash flow management software enables them to increase employee productivity through automated data capture, intelligent character and pattern recognition, and the use of workflows.

Data, whether in paper or electronic format, is captured, extracted and indexed for research purposes. Important information, such as dates, amounts, and description of products or services, is automatically recognized, validated, and routed through workflows.

Professional services help your company streamline its accounts payable processes in the following ways:

·         Integration with existing systems to facilitate the transfer of information and reduce data entry tasks

·         Archiving all captured information for future reference.

·         Automation and reuse of business rules in approval processes

·         High visibility for cash flow planning purposes

Advantages:

·         Abandonment of paper

·         With online payment processing, you reduce up to 80% of manual data entry.

·         Easily annotate documents and send revisions to other users.

·         Do not worry about possible missing documents

·         Saving time and money

·         Speed ​​up the processing of accounts payable transactions and receive early payment discounts.

·         Eliminate additional storage costs.

·         With greater transparency, discover the bottlenecks.

·         Maintaining compliance

·         Follow everything in one centralized system.

·         Thanks to greater visibility, you can easily comply with the regulations.

·         Integrated record keeping policies allow you to comply with government storage regulations.

Expertise in accounts payable processing saves your business time, reduces costs, and improves efficiency.