accounts-payable-solution

Accounts Payable Problems Most Companies Struggle With

In Blog by GSCM Info

Hard-Fought Battle Against Accounts Payable Problems?

accounts payable problemsThe battle of Thermopylae in ancient Greece pitted 300 seasoned greek soldiers against an army of 2 and a half million Persians. No matter how great of a fighter you are, against that formidable of a number you’re bound to make some bad mistakes. When you are reading this article because you’re looking for a solution for your accounts payable problems, you probably experience a large number of accounts payable system or process pitfalls. You might feel like those 300 greek warriors looking at that massive Persian army of two and a half million soldiers. The sheer number of Invoices and documents going through your system is often daunting to even look at and puts quite a strain on your accounts payable team without a doubt. With repetition comes speed of the process, but with repetition, there is always the opportunity for repetitive errors. Read more about the accounts payable problems most companies struggle with below.

 

The Weapons Your Current (AP) Accounts Payable System Might Use Against You

No matter how much you attempt to structure your AP process, it often refuses to be tamed and will consistently bite and snap at you. Though there will be many unexpected ways your Accounts Payable System will try to take you down and make life difficult for you, there are a few more common issues that it will cause that you can expect to happen.

Issues Caused by Manual Entry
Everyone’s got important tasks to accomplish and a limited amount of time to spend wisely, manual errors will take valuable time and effort to correct and verify.

Inaccuracy and Long Processing
Quite often, a simple issue with validating payment information on invoices can cause an important deadline to not be met.

Attempting to Handle Exceptions
Yet another thing that takes valuable time, documents may have discrepancies or you may come across non-standard Invoices, both of which need special attention to properly process.

Organization and General Confusion
Between the massive amount of Invoices being processed and other accounts payable problems, everything needs to be properly organized and collated. Invoices from businesses may be sent through different means, and even different currencies may be used depending which business is sending it. Needless to say, trying to keep everything in its proper place can be a bit of a nightmare.

 

Fighting Back Against Your Accounts Payable Problems

Just as the Greeks did, you don’t have to sit down and allow an unstoppable force to cause endless issues for you. You work so hard for your AP system because it’s such an integral part of your business. By switching to an Accounts Payable Automated Software Solution like SnapAP, you can turn a problematic process into something that works for you instead. All the aforementioned accounts payable problems and all those not mentioned could be solved. Instead of keeping busy with all kinds of accounts payable problems, this could give your team time to focus on more important things. For example their actual job as opposed to just working as a “cleanup crew”. We dare to say, switching to SnapAP Automated Accounts Payable Software could solve all your accounts payable problems and save heaps of money as well. So you can save up to fund the other battles that there are to be fought in business. How much money could you save? You’re just one minute away from finding out when you click the Calculate Now button below.

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