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How Healthy Is Your AP Process?

By Dennis Kempner posted 11-27-2014 12:35

  

It’s time to talk about your health. I’m not talking about how often you are going to the gym or what kind of breakfast you should be eating; I’m talking about the health of your AP Process. If your AP department is still using a paper based system, then you need to start hitting up the document management gym and get your process to a “healthier” state.

AP automation will lower manual labor… costs.
If you are still using a paper-based AP system, you are giving your employees a tough workout, and it’s tiring out your employees as well as your organization’s wallet. When you switch to an automated system, you are minimizing time-consuming tasks like sorting through paper and data entry. Because labor generally represents two-thirds of the costs of running financial processes, you will save a significant amount.

AP automation will give you a break from tough ‘work’ outs.
Automated workflow means that the time you would spend processing hard-copies can be redirected to something else (maybe the actual gym) and increase your productivity.  Instead of handling all that paper, you will be able to spend your time accomplishing the tasks that you've been meaning to get to or even improving those that you do every day.

Lose the data entry weight.
With an automated AP system, you will be able to drastically reduce errors and issues that can be caused by manual, paper-based systems.  Automation will also track who did what, where and when for each step in the process. It not only improves quality of the data entry but also allows the managers to monitor and respond to all the activities during the process.

 

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Comments

12-02-2014 16:20

Thank you for the post and I completely agree! Our AP process is next on our list of process improvement efforts.