August 27, 2013 by Susan Matthews Categories: Solutions

Workflow automation helps organizations replace the movement of paper with electronic routing and streamlined processing. How it works:

  • Invoices are scanned upon receipt and routed electronically for processing
  • Processing and approval alerts are automatic
  • Data is seamlessly shared with your accounting software
  • You get visibility into the entire process to identify employee performance and bottlenecks

Dramatic & Measurable Results

As a result, workflow automation can cut costs by 70% or more, especially for organizations experiencing:

  • Duplicate or late payments
  • Missed early-pay discounts and lost invoices
  • Paying for goods and services not received

Additional costs savings stem from AP clerks being re-focused from pushing paper around to handling exceptions and problems with vendors, or re-purposed entirely for revenue-generating activities. Either way, the impact to your bottom line will be measurable and dramatic.

Workflow Automation Next Steps

From our experience, the best way to painlessly implement invoice processing automation is to find a document management partner with the following experience:

  • Experience working with CFOs, accounts payable and invoice processing
  • Ability to integrate invoice processing automation with your ERP or accounting software
  • Both the options of scanning your invoices off-site with PO box scanning services and implementing an in-house invoice management system

Finding a partner with these capabilities will help you cut costs and re-focus efforts on resolving billing problems quickly and re-purposing staff for higher value activities.

For more information, read Part 2 of our CFO Executive Briefing on invoice processing automation