Automated Invoice Processing: The Accounts Payable Perspective
written by Carolyn Hunt, Expert Accounts Payable Manager
Improve Business Efficiency with Invoice Automation
Leading organizations make it a practice to continually review internal business processes to ensure they are operating at peak efficiency. Naturally, the focus is often on revenue generating areas but organizations are increasingly seeking opportunities to streamline administrative functions by keeping pace with industry advancements and technology. One business process that regularly provides extensive opportunity for improved efficiency and automation is invoice processing within the accounts payable department.
Accounts payable processes are often redundant and generally produce excess paper with multiple “convenience copies” circulating within various departments. Vendor invoices enter the organization on a daily basis through multiple channels including fax, email, mail, and electronic data interchange (EDI). Accounting personnel are responsible for making sure the invoice matches both the product or service received and their company’s purchase order. The accounts payable professional is under increased scrutiny to review several factors to ensure the company is receiving the appropriate product and payments are made in an efficient manner. These items typically consist of manually confirming order quantities, product costs, tax amounts, and more. All of this chaos leads to substantial costs in paper and data storage as well as wasted labor, time, and effort on processes that can be optimized through automation. Read the information below to discover the benefits of invoice processing automation for your organization:
Your Guide to Automated Invoice Processing
Section 1 | The Manual AP Process and Invoice Automation
Try out CVISION's Trapeze for Invoice Processing
Inefficiencies in any internal process often detract from a company’s bottom line. Requests a 10-day free trial download version of CVISION's automated invoice processing solution to experience reduced costs and accelerated processing time in your accounts payable department.
Invoice Automation: Is It Worth It?
Automated invoice processing helps to carve a lean accounts payable department for maximum efficiency. Users of CVISION's invoice automation solution were able to achieve an ROI in as little as 6 months, helping their company grow without hiring additional workers. Read on to see how automated invoice processing can rapidly improve your bottom line: