Accounts Payable
Accounts Payable webinar series
Watch part 1, 2 and 3 of our 4 part webinar series on the benefits of an automated accounts payable system.
AP Webinar 1 - What's the alternative to repetitive, error-prone AP processes?
AP Webinar 2 - Approval Workflows
AP Webinar 3 - Cloud storage and archiving, remote working and compliance.
Automate your accounts payable processes
For accounting departments, paper-based, manual invoice processing is an age-old problem that poses a range of operational and strategic challenges.
Benefits
Process Efficiency
Reduced bottlenecks and accelerated approval times
Cost effectiveness
Cost savings through simplified processes and lower paper usage
Security
Document security based on customised permissions.
Digital Transformation
Digitise all critical content — paper, electronic forms and data
Error Reduction
Increased accuracy and fewer lost or misplaced invoices
Cash Management
Better cash management and improved visibility of cash flow
Full Auditability
Enhanced compliance and clear, transparent audit trails
Save the environment
Remove the need for paper-based documents.
Visibility. Efficiency. Accuracy.
Despite the ubiquitous presence of digital technologies, the accounts payable (AP) department remains wedded to paper in many ways. Only 5% of businesses are using a fully automated accounts payable system, while 19% have no automation at all.
For an organisation handling hundreds or thousands of invoices each month, relying on paper-based processes can be time-consuming, prone to error, and likely to result in compliance issues.
Over time, this can cause all manner of problems, including stressed accounts payable teams, damaged relationships with suppliers, forecasting issues and a lack of visibility into financials. It’s no surprise, therefore, that 56% of businesses have experienced cash flow forecasting challenges due to accounts payable issues.
With Kyocera Accounts Payable Automation, we put our knowledge to work to ensure a successful transformation of your accounting function and realise the below;
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Automate now and take control
An automated AP solution has become an increasingly strategic and operational necessity, and the benefits are clear.
Real-time visibility gives you power
Dealing with your suppliers quickly, efficiently and with compliance in mind means having an accurate understanding of invoice volumes, exception rates and bottlenecks. At present, many accounting teams do not have this visibility.
There is a reason that the majority of business processes are becoming digitised and automated. Having access to your workflow and financial data from anywhere, at any time, is hugely beneficial to business productivity.
Having instant access to more timely data and information allows you to meet payment incentives – accurate and timely settlement of invoices improves supplier relationships and increases the efficiency of your supply chain
Out with the old, in with the digital
For accounting departments, paper-based, manual invoice processing is an age-old problem that poses a range of operational and strategic challenges. Combining both digital and manual processing is costing organisations time and money.
When you consider the money spent on printing unnecessarily and employee’s time spent searching through copious amounts of paper copies, the efficiency just isn’t what it could be, should you decide to go digital. Organisations that spend hours per week dealing with manual documentation are falling far behind those who have converted to digital
Eliminate risk.
Manual data entry is prone to human error. Mistakes in invoices can be hugely time-consuming to rectify, causing delays to processing as accounts payable staff spend hours or even days fixing the issues.
Digitising and automating your accounts payable processes can reduce and in some cases eliminate the risk of human error – humans regularly misclassify a shocking 1 in 20 documents.
By removing the risk and replacing it with consistently fast and accurate processing, your organisation stands to save time, money and that all-important reputation. Paying suppliers smoothly and as cost-effectively as possible becomes just another business process.
Why Annodata?
The breadth of our portfolio means we can provide end-to-end managed services right across IT infrastructure.
We provide peace of mind with a complete solution to meet your needs.
We design, deploy and optimise the system to fit your business requirements.
Technology is constantly upgrading, and it’s not always easy to keep up with the changes and define the best working systems for you.
That’s where our expertise comes in.
