Accounts Payable: Why Go Digital?

The reality is that many companies waste time looking for information, maybe in different departments for required documents. It can take hours or even days to find what is needed. The result: a company’s productivity and competitive edge suffers, affecting the bottom line.

Here are some of the headaches that we have helped our clients to overcome:-

Approvers have too much work on their plate – emails can be missed with attachments etc – we veer away from multiple emails and send one per day only with the invoices to be approved – via a link to the their Tasklist.

Approvers don’t have time to verify details such as Line item details – we have products to cross reference to the original PO – highlights in green if all matches, orange if unsure, red if doesn’t match. Invoicing matching done for you. Best practice.

Approvers go on holiday and everything stops – simple workflow can ease this by redirecting to other users if not approved/rejected within a set time frame.

Many invoices being received via email – we have products to capture the data and automatically push it into a Tasklist or authorisation process – without printing out the invoice and manually entering the data.

Duplicate copies of invoices – duplications: 37% of respondents receive duplicate copies of the same invoice from more than 25% of their vendors before the due date. Weeding them out is a ton of non-value added work. Can’t catch all duplicate invoices with manual process. Add this to the second copies of invoices sent after the due date, and you’ve got a lot of unnecessary extra work. The DocuWare system does not let 2 invoices enter the system with the same invoice number – you cannot pay someone more than once for the same invoice.

Lack of awareness – if an invoice or PO has not been dealt with. You have a transparent process here as users can view where an invoice is at any time instantly. Automated email inboxes push the documents to the software and eradicate possibility of incoming invoices being missed. Re POs, the same via an email purchase order –  systems continually monitor the mail box – everything that is new is unmissable and if not edited or viewed within a certain time frame, an alert will be sent to the defined user.

Early payment discounts lost – possible late fees – Vendor relations frayed when paid late.

Audit nightmares – failed audits resulting from lost documents or poor documentation can result in large fines, or a range of other penalties. Not to mention lost investor or creditor confidence. With Docuware you can ensure processes are being adhered to and are fully auditable. The Accounts Payable Solution is an easy to use, affordable, on-demand service.

Delivery notes – a whole other headache but they can work seamlessly – your drivers should be able to work ‘live’ and the invoice can be automatically issued as they work. DocuWare solutions utilise 3 way matching – this means if there is a discrepancy, this is presented to a defined user – otherwise the invoice goes out automatically to your customer.

 

Give Evolve a call on o1772 269033 or contact us here.