Could Your Accounts Payable Department Be More Efficient?

Papers

By Chrystal Chambers

The largest volume of manual paper and business processes within an organization can usually be found in the Accounts Payable (“AP”) department. This makes AP the best place to start when you are looking to increase efficiencies.

Here are some common AP business issues your organization may be experiencing:  

  • Tim filing, retrieving and delivering papers
  • Lack of invoice visibility during processes
  • Consumption of resources during audits
  • Expensive offsite storage fees
  • Unnecessary courier and postage costs
  • Lost documents (human error or disaster)
  • Approval process delays

The right enterprise document management system can help you streamline business processes and eliminate paper and paper-based bottlenecks. In addition, this could earn your organization powerful costs savings and provide better business visibility and control of information. So how can a document management system benefit the AP department and help increase efficiency?

Increased Productivity

  • Fewer hours filing and retrieving
  • Quicker digital approval routings
  • Better availability to documents
  • Reduced audit preparations and support
  • Faster Report Distribution

Cost Reduction

  • Personnel time filing and retrieving
  • Business growth without more headcount
  • Courier and postage expenses
  • Offsite file storage and retrieval fees
  • Paper, filing and general office supplies
  • Audit fees
  • Early pay discounts

Stronger Operations

  • Visibility and control of documents
  • Reliable access to information
  • SOX compliancy
  • File storage space repurposing
  • Improved collections
  • Efficient and accurate customer relations

Please contact KES if you are interested in improving efficiency with enterprise document management!