This article first appeared in the Autumn 2016 issue of The Record.
Improved productivity leads to cost savings, vendor and employee satisfaction, better time management and so much more. An accounts payable (AP) automation solution, such as Metafile Information Systems’ MetaViewer, enhances productivity beyond the AP department – it allows employees across the enterprise to enjoy the benefits of better efficiency.
An AP automation or document management solution streamlines previously paper-based processes with workflow approval automation, data extraction, routing and indexing. This eliminates the need for manual data entry, minimising mistakes, reducing the average cost per invoice (both sent and received) and saving employees time.
In addition, AP automation and document management stores documents electronically and enables customer service staff to search for files using keywords, saving time and making it easy to find information quickly. This eliminates filing errors and provides near-instant dispute resolution, leading to happier vendors and customers. If invoices are filed more accurately, this also means fewer vendor and customer calls per week asking about missing or inaccurate information.
It’s vital that an executive has insight into all areas of the enterprise so they can see which processes are efficient or inefficient. An AP automation and document management solution offers accurate and customisable charting capabilities so executives can follow the status of invoices. Plus, when the system is integrated with Microsoft Dynamics, it improves the company’s return on investment on its enterprise resource planning (ERP) solution. Many document management solutions also come with mobile access, giving employees the ability to approve and view invoices from anywhere, any time. AP automation can also be expanded to accounts receivable, human resources and legal departments.
IT departments also work hard to ensure technology is up-to-date and working smoothly, but an AP automation solution makes teams more productive. It ensures compliance with record retention regulations, audit control and integration with the company’s existing ERP solution. In addition, IT staff can reduce the amount of storage space they need and many document management solutions can be implemented in the cloud, or on a subscription or on-premises basis.
By using an automated solution integrated with a Microsoft Dynamics ERP platform, enterprises can achieve greater organisation-wide productivity. Time savings, cost savings, enhanced visibility, increased return on investment and many more benefits are all possible as better efficiency trickles through the company.
Alyssa Putzer is the Marketing Communications Specialist at Metafile Information Systems
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