Two Unexpected Ways Autoprocessing In Accounts Payable Saves Your Employees Time
If you want to speed up your business processes, automation is the way to go. Auto-processing will dramatically increase how quickly your accounts payable department can process invoices, payments, etc. But that’s not the only time-saving benefit.
While it’s true that the largest increase in speed comes from auto-processing, there are other factors in play as well. The same accounts payable workflow automation system that processes most invoices without human assistance also makes it easier for your employees to do the tasks that require their hands-on attention.
The Right Processing Tools
With a good accounts payable automation system like the one from NextProcess, you can get up to the point where it’s auto-processing nearly 90% of your invoices. Obviously, that’s going to save a huge amount of time. Every invoice that doesn’t need manual approval will move through the system at top speed.
What many people don’t realize is that an automated system also helps you process the invoices that require manual approval. Having an automation system in place gives you the tools to process invoices manually with much the same efficiency as those processed automatically. Plus, accounts payable workflow automation catches invoices that need manual review and automatically routes them for approval. This ensures that invoices are put in front of the people responsible for making decisions faster.
Having the right tool for the right job is a huge part of this. All the information that the system uses for automatic processing is available to help employees with manual processing as well. For example, the system will include tools that automatically provide historical data on the vendor. That helps the employee assign a GL code to the purchase or determine if the amount billed is within company parameters.
A Powerful Search Engine
The second unexpected way that accounts payable automation saves time is by providing useful data entry and search tools. Even though it’s not “automatic” in the same sense as auto-processing, automated data entry and record keeping is still a vital function.
NextProcess automation systems include image indexing. This type of system goes beyond simple image capture to store digital records of all the information contained in and about a document. That provides users with quick access to all the information they need when manually interacting with the system.
When combined with an integrated search engine, image indexing lets users search virtually everything about a document. This information includes the metadata around when the invoice was received, how it was submitted, who within the company has seen it, etc. These powerful indexing and search features are particularly useful for handling disputes and duplicate payments. They also help prevent invoicing double payments twice for the same purchase.
Auto-processing saves your accounts payable department time for every invoice that a human does not have to manually approve. On top of that, you’ll also save a lot of time by giving employees the tools they need to manage invoices they have to manually process. And the data entry and powerful search tools provide employees with an advantage when they need information about invoices for any reason.
If you’re interested in leveraging the power of accounts payable workflow automation for yourself, get in touch with us. We’ll be happy to answer any questions you may have and schedule a free demo.