Document Management Automates the Accounts Payable Process, Part 2

Posted by admin on May 27, 2011 8:00:31 AM

In part 1 of this blog post we discussed numerous ways that Accounts Payable Departments can benefit from high quality document management solutions. In this blog post we will continue to discuss how document management solutions automate the accounts payable process, which increases your business’ efficiency and saves money.

Quality document management solutions also allow your accounts payable department to eliminate stalled invoices and automate document routing, seize all vendor discounts, improve vendor relationships and increase favorable terms. Additionally, these document management solutions also allow your accounts payable department to easily perform and augment three-way matching, including exceptions resolution.

Accounts payable departments can also use these document management solutions to optimize approvals, payment cycles and reporting, which results in lowered costs and risk of accrual misstatement. These automated process allow your accounts payable department to take on volume increases without additional staffing.

Document management solutions also provide Accounts payable departments the following benefits: Increased flexibility for customers to submit invoices in their preferred formats—whether faxing, scanning or through inter-office mail for accounts payable staff to scan; automated matching of invoices and checks can save many man-hours per week; easier audits with quicker access to needed documents and transaction histories; the ability to replace costly, error-prone paper processes with automated records management and the ability to resolve vendor disputes instantly with supporting document at user’s fingertips – POs, invoices and packing slips.

Contact your local document management company to learn how the can help bring your accounts payable department peace of mind, not pieces of paper. Document management solutions allow your accounts payable department to store all of your important information in one unified, easy to maintain structure, which eliminates unnecessary costs and adds to your businesses bottom line.

For more information about our document management solutions, contact MES Hybrid Document Systems.

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