To push your business' growth, you will inevitably take on accounts payable. Managing these accounts, however, isn’t as simple as paying off a personal credit card. They become an integral part of your business’ operations that require workflows to effectively manage. From your initial purchase order to your final accounting reconciliation, you must closely oversee each step in the accounts payable cycle.

Effectively managing your accounts payable is a critical business process that guarantees you can obtain the necessary assets to keep your business going without overpaying. That being said, you will face many accounts payable challenges as time goes on. The single most powerful tool that you can invest in to overcome some of your biggest accounts payable challenges is a digital document management system. Here are five of the biggest challenges related to your accounts payable that a digital document management system can resolve quickly:

While dealing with your accounts payable accounts can be draining (nobody wants to spend a great deal of time paying money!), it is a necessity. If approached the wrong way, managing your accounts payable can be excessively time consuming, done incorrectly or even cause you to spend money where you shouldn't.