Accounts Payable Automation.
Every organisation has invoices that need to be paid. An efficient accounts payable (A/P) process helps conserve cash, enables staff to focus on revenue-generating activities and minimises issues due to late payments.
Paper Invoices and manual processing strangle accounts payable operations damaging supplier relations and limiting financial visibility required to actively manage cash flow.
According to Aberdeen Group report of 2012 best in class companies process invoices 75% faster and 80% cheaper than laggards. So what enables best in class companies to achieve this level of efficiency and savings?
Achieving the status of best in class accounts payables operation requires strategic actions and investment in technology that enables:
- Ability to match invoices against purchase orders, receipt documents and contracts
- Standardise invoice management process across all locations
- Integrate AP systems with ERP or financial solutions
- Searchable archive
- Tools and dashboards allowing AP users and approvers to effectively manage their work
Ricoh Consulting has worked with iconic NZ businesses, such as Turners and Growers in helping them become a best in class AP operation in less than 6 months.
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