Modernise Your Accounts Payable Practices by Automating Your Invoice Processing.

We truly live in a digital age. Think about it. We sit at home on our sofas and order groceries and takeaways. We manage all our banking using our phones and when was the last time you called a friend instead of using social media to message them? We rely on technology to make our lives simpler. Why then do we still rely on old, manual processes for Accounts Payable (AP)? Surely it would make sense to modernise how we process invoices, allowing resources to be freed up for other tasks.

Did you know that by automating your AP workflows, your Accounting Department could be spending up to 60 or 70% less time processing invoices? This lets them focus on other business priorities.

Invoice processing is one of the most effective ways in which AP workflows can be digitised. Although there isn’t any fixed figure for how much manually processing invoices cost, independent research puts it between £9.00 – £27.00 per invoice. By implementing automation software, you could save, on average, £6.00 per invoice.

Irrespective of the size of your company, the volume of invoices processed by your AP Team, and the frequency with which you receive invoices, manual invoice processing ultimately costs you more than it should. This is in lost time, in productivity and in human error. Docuflow’s Finance and Invoice Automation Software utilises the latest technologies and intelligence to control the cost of negative, time-consuming manual methods.

So how does implementing invoice processing software reduce costs and save time? Here are some examples:

  1. Elimination of paper, storage and filing costs.
  2. Reduced labour and staff costs. Employees can focus on business priorities. Audits and retrieval of information is quick as the information is available on-demand.
  3. Improved accuracy. Invoices are matched to purchase orders and other documents, allowing for less manual user data entry with information being accurate, meaning less costly human errors.
  4. Faster approvals and workflows
  5. Reduced fraud risk. Information is secure and easily available with less exposure for the opportunity of fraudulent transactions and rogue invoices.
  6. Superior productivity and efficiency. Automation frees AP employees to focus on business goals. Fewer staff is required as part of the automation process, so costs can be reduced by 60% to 90% typically with less human errors.

So why not bring your AP processes into the digital age? Docuflow offers different levels of software and pricing from entry level through to high volume enterprise requirements.

If you want to explore further, let us know. It would delight us to discuss with you how we can help. Please email info@docuflow.co.uk for more information.

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