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Calculations should also include the current cost per invoice and overhead costsĤ.) Plan for a smooth and quick implementation.

Soft savings, such as process efficiencies, operational improvements, better customer relations, mitigating risk through fewer lost invoices, better document control and tracking, with quicker reporting and disaster recovery.

Hard savings in labor costs, storing paper documents, and software licensing are all quantifiable costs.

The "business case" for paperless AP automation must include the following: 3.) Make a business case for paperless AP automation, and make sure it covers all the bases The key is to stay on track with the system requirements most important to stakeholders and users to avoid apprehension to change. Moreover, looping in the individuals who will use the new system every day applies the old military philosophy, "Those who plan the battle won't battle the plan."Īlso, "clearly define" means avoiding the temptation to compile haphazard checklists or nonconstructive, self-serving vendor gripes and feedback. They can provide insight into the types of challenges they face with existing paper-based processes. It is crucial to involve front-line staff members in developing the functional requirements.

The number of people in your organization required for standard and non-standard payment approval.The level of intricacy involved with your invoice approval process.The format of invoice documents being processed.This requires a comprehensive volume and task analysis of the invoices and other billing documents the automated system will capture and process, as well as an analysis of: Mapping current business processes can be the biggest challenge in moving to an automated AP solution. Improve supplier access to invoice status for better product and inventory flow/managementĢ.) Clearly define the processing requirements and your people, too.Enable invoice approval by employees off-site.Reduce labor costs and the drudgery of data entry.Eliminate manual keying and paper handling and cut down on transcription errors.Integrate accounts payable with other systems for quicker approval and better visibility with budgeting, inventory management, and so on.For example, common goals include objectives to: Go for short- as well as long-term goals. It is based on recommended steps by the Institute of Finance and Management for transitioning to paperless invoice-to-pay.Ĥ Steps (and a plan of action) for Adopting a Paperless Invoice-to-Pay Process 1.) Set realistic and achievable goals and objectives The following is both a template and goal-setting approach to get the buy-in at every level of the organization. Need more information to help get your team more comfortable with fully automating accounts payable ? It's easier than you may think.ĭeciding to go paperless is the first step in getting a handle on a faster and easier invoicing-to-pay workflow.Īccounts payable automation software eliminates most of the paper involved with manual invoice processing and offers a way to make payments without the cost and time associated with printing, stuffing, and mailing paper checks. So, how does AP automation work? Don't worry.

The good news: it's bever been easier to enable AP invoice-through-payment automation. The time you need to allocate towards organizing and filing the mounds of paper once you are done processing the invoice and making the payment is enough to motivate anyone to seek alternative ways to manage their AP process. It's easy to get fed up with searching through piles of paper invoices just to find the one you need to make a timely payment.

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Strategic Partnerships Partner with us for an easily integrated AP Automation Solution.Virtual Cards Virtual cards are the safest payment method & generate revenue.Invoice Automation Automate invoices to reduce costs & eliminate errors.Payment Automation Automate B2B payments to save time & reduce costs.OnPa圜onnectInvoice Invoice automation software designed for you.OnPa圜onnect AP payment automation on any device.Solutions Open child menu for Solutions.