What Is Accounts Payable Automation?

Accounts payable automation begins with a need. A need to move client paperwork through the system more efficiently, a need to validate and clear invoices more quickly; the list goes on. The bottom line is this: your need is to get your accounts payable team to work faster, more efficiently, and with less human error.

In all likelihood, you work in an office that has everything to be expected - a water cooler, desks, snacks, maybe even a few bean bag chairs. However, you probably also have a large filing cabinet (maybe even multiple filing cabinets) collecting dust in a supply closet, or worse, taking up valuable floor space in the middle of your office. Even though scanning and document management technology has advanced to the point where organizations can operate completely paperless, filing cabinets are still prevalent in offices around the country. How can that be?

Recordsforce is happy to announce that we have partnered with ancora Software, a global innovator in automated document capture, to offer their invoice capture automation capabilities to our invoice workflow approval solutions. This partnership will allow companies to use the ancora product suite for self-serve processing applications where outsourcing is not an option.

Do you have a business process that requires inputting hundreds or thousands of documents into Salesforce each month? Is the process as fast and pain free as you’d like? If it were, you wouldn’t be reading this! Salesforce is a fantastic tool for doing a lot more than just the humble CRM it started out as. Yet, with all the changes, still resorts to a fairly basic document storage and document uploading practices that don’t adequately support most business processes. If you need to see more than 5 documents, it turns into a clickfest.

As a person working in accounts payable, how much time is spent just getting invoices from your mailroom to being ready to pay?  Do you know? You might want to.

Accounts payable departments are a great example of a job where valuable employees often end up doing lots of “bad” work. Imagine your hiring ad for an A/P clerk stating:

At Recordsforce, we know what  good invoice workflow should look like. We’ve been doing it for over 10 years, and at this point, we’ve pretty much seen it all. Most people we talk to who are managing their invoice approval workflows in-house know that there are errors in it, but can’t pinpoint why. Below we’ve listed the most common reasons invoice approval workflows are riddled with issues.

When documents get wet, the clock starts ticking. You have less than 24 hours before mold and mildew beginto form. The faster you act, the sooner you can avoid devastating document deterioration. Follow these steps you’ll be able to minimize the damage done to your most important papers after you suffer water damage.

So you’re looking to go paperless and store your invoices digitally through an invoice processing 

Outsourcing is no longer just for customer support. The benefits of finding industry experts to complete an expensive, time consuming process at your organization can have a significant positive impact on your business. If you’re looking to hire a third party to complete a business process for you, whether it’s sales and marketing or a highly technical process, you can find a company to do it. Outsourcing is even becoming more common in finance departments, whether it’s accounting, reporting, or even accounts payable (A/P). Because of the resources needed to process invoices and massive amounts of paperwork involved, accounts payable specifically has been an area of increased outsourcing. An outsourced A/P team will handle every part of your A/P workflow while ensuring data accuracy and full transparency. Below we’ve listed the top nine reasons for companies to outsource their accounts payable process.