First Steps for Accounts Payable

First Steps for Accounts Payable

First steps in automating your accounts payable systems to improve first time match rates

For decades companies have relied on a manual and paper-based accounts payable process. Accounts payable may not be as profitable when compared to sales revenue streams, however, it plays a significant role in improving a business’ cash flow. Streamlining and automating AP can lead to a paperless and hassle-free solution.

First Steps

1

Does your organization suffer from data entry errors when processing supplier invoices?

2

Have you accidentally paid an invoice before receiving the product or service?

3

Do you regularly miss out on early payment discounts from suppliers?

4

Do you experience late payment fees from suppliers due to the slow processing of invoices?

5

Are you constantly following up on queries manually or fielding supplier queries regarding late payments?

6

Do you receive, and pay, duplicate invoices from your suppliers?

7

Does your AP team spend most of its time investigating pricing and/or stock discrepancies?

8

Do you spend a considerable amount of time trying to work out what happened to invoices because your system can’t or isn’t sophisticated enough to do so?

9

Do you want to improve your supplier relationship by providing a faster invoice processing/payment rates and better visibility?

First Steps for Accounts Payable

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