By now, you’re probably aware that accounts payable (AP) automation by using workflow systems can cut invoice processing costs by up to 90%. This is achieved by eliminating duplicate payments, routing quickly to approvers, taking advantage of early payment discounts and has the added benefit of giving management better visibility into cash flow. How then does an organization take AP productivity and process improvements to the next level? By utilizing AP mailroom automation.
How AP Mailroom Automation Works
The idea behind AP mailroom automation is very simple: automation begins as soon as the paper invoice is received. Instead of waiting for your mailroom to route paper invoices to AP clerks, who then have to scan or manually enter them, you have all of your invoices sent to one PO box, and a dedicated email address, which is received by a third party service provider.
A team of professionals then open, prep, scan, index, QC and upload all paper invoices to a workflow or directly to your ERP. In this way, invoices are received and processed by your AP staff up to 50% faster.
If You’re Scanning Invoices Today
Do you want your AP personnel scanning documents or do you want them to utilize their exception handling skills to further improve vendor communication with your organization? Who in your staff has the time to QC the scanning to ensure that the audit trail and images ensure that your auditors are 100% satisfied? If you allow a third- party company dedicated to these tasks to provide the scanning, data entry and QC you will be assured of quick turnaround and accuracy. There are no “down times” with a service bureau that specializes in this process and adheres to a service level agreement that guarantees next day turnaround. This allows your company to properly utilize the skills of your knowledge workers and eliminates the need for capital expense of software, scanning equipment and annual maintenance.
If You’re New to Invoice Processing Automation
If you’re manually entering invoice data today, automating the AP invoice processing from the time it is received will dramatically reduce errors, offer straight through processing reducing AP touch points, increase productivity and provide management visibility into the process—with ZERO capital expense.
Invoice Processing: Just the Beginning
The same mailroom automation setup for invoice processing can also be used to automate the processing of claims, surveys, enrollment, and any other incoming paper and emailed documents. Whatever your situation, third-party mailroom automation services can dramatically save any organization a lot of time, money and headaches.