Automating Your Accounts Payable Workflow

The accounts payable workflow process requires a flow chart of the documents that arrive at the accounting department. This allows for an accurate comparison between the vendor invoice and the PO, and minimises the chances of human error. It also ensures that payments are made to the correct vendor and can be traced back to the PO. While these two components are important, there are a variety of ways to streamline the accounts payable workflow process. Listed below are some of the advantages of automating your AP workflow.

Save Time, Money and Avoid Errors

Automation is the best solution for improving your AP workflow process and eliminating inaccuracies. An automated process helps you avoid double payments, overpayments, and duplicate invoices. It also alerts you to pending due dates so that you can avoid them. An automated invoice system allows you to customise your accounts payable workflow process. It routes invoices that exceed the required amount to the proper authorisation and balances staff workloads. Another benefit of using an automated invoice system is that it eliminates the need for paper invoices and helps your company build a strong relationship with your vendors.

Customise Your Workflow Process

The accounts payable workflow process can be customised to fit your business needs. This includes the tables and approval timers that your employees need to complete. It can also be accessed remotely using cloud technology. By utilising cloud computing, your AP system can be accessed anytime, anywhere. With centralised information, your finance team will have a clear view of your processes. And thanks to remote tools, your staff can manage reports from anywhere.

Speed Up your Accounts Payable Process

Using an automated accounts payable workflow process can speed up your processes. This saves time and money. It's important to make sure that your documents are in digital form before you implement an automated accounts payable workflow process. By automating your AP workflow, you'll be able to reduce human error. If you're automating your processes, you'll be able to eliminate manual errors and increase your company's efficiency.

Ensure That the Right Payments are Made to the Right Vendors at the Right Time

Accounts payable workflow processes can be automated to save valuable employee time. The software automates invoice processing and approves invoices in a more efficient manner, providing insight and reducing processing costs. It also ensures that the right payments are made to the right vendors at the right time. It's also possible to make changes to your workflow without disrupting your workflow. It's vital to integrate an automated accounts payable process. If you're not using the software, you'll lose money.

Avoid Late Payment Fees

It also avoids late payment fees and builds trust between vendors and businesses. If you're not already automating your accounts payable workflow process, try to optimise your business's workflow with an APA software. You'll be glad you did.

Eliminate the Use of Paper Invoices with Our Software

You can automate your accounts payable workflow by using an online software called Webexpenses. The software allows you to create and edit flowcharts for every aspect of your business. There are several templates available on the website that you can use for your flowcharts. These templates are easy to customise. You can also insert symbols, shapes, and other information you'd like to incorporate into your charts. You can also eliminate the use of paper invoices, but you must accept electronic invoices from all vendors.

Conclusion

Accounts payable automation can save your business time and money. Our software is customisable to fit the needs of your specific workflow process, and we can help you eliminate the use of paper invoices altogether. Speed up your accounts payable process, ensure that the right payments are made to the right vendors at the right time, and avoid late payment fees – all with TeamBlueSky’s help. Are you ready for a more efficient accounts payable department? Contact us today for a consultation.