How can you solve the biggest problems with your Accounts Payable department?
Before you can solve any issues with your Accounts Payable process, you must first be able to make informed decisions.
The best way to make informed decisions?
Have great information.
Having access to quality data is the single most important factor in improving any business process. In fact, gathering comprehensive, objective, and real time data is the only way to effectively work towards and ensure process efficiency.
How does one improve their access to data? By improving process transparency and visibility.
The good news…transparency and process visibility are the two prominent advantages of AP automation.
Imagine having immediate access to critical data, such as:
- The number of invoices currently routed for approvals
- Why invoices are stuck in review
- How payables look vs. receivables
- How fast invoices are processed
Unfortunately, reporting functionality often takes a back seat when discussing AP solutions.
ERP integration, workflows, and search functionality all play key roles in implementing a successful AP solution. However, without strong reporting functionalities, your AP department is missing out on the single most important tool at their disposal – data.
So how can you solve the biggest problems with Accounts Payable processes? Make intelligent improvements by analyzing actual data – and maintaining direct visibility and control over every step of your AP processes.
Interested in improving your AP processes? Enhance your visibility today.
AP Automation Software: