Can Your Paperless AP Handle High Volume?
So you have this great idea of going paperless…but have you made sure your automated Accounts Payable software can handle high volume? Some automated AP processes are shockingly weak on key components, such as e-Invoicing. If you are stuck scanning documents all day because your AP software doesn’t allow Suppliers to submit their Invoices digitally, when it gets busy you will be buried under that one task and the benefits of going paperless are lost.
There’s nothing better than using the tools available to achieve the highest efficiency. It allows you to get the job done properly without it feeling like a slog, and without the grand opportunities for errors like the old paper system held.
SnapAP Accounts Payable Software holds the key to brilliance when it comes to AP automation: simplicity. It’s easy to install, easy to use, and–here’s the theme for today– easy to expand.
Increase Production without Increasing Staff
There’s no sense putting a paperless P2P process into play if it won’t handle your company’s growth. SnapAP’s scalable Accounts Payable solution allows you to increase the number of Invoices processed without the need for more staff hours, thus optimizing the results of your growth. Automating your AP system can also result in improved moral, removing tedious tasks like filing, and can make life ten times easier when the government–or board of directors–asks for reports. By being digital, it becomes a breeze to search for information and create comparisons. Data is completely up-to-date as well, allowing you to manage your cash flow more efficiently.
Automatic Three-Way Match
The traditional paper system requires manual filing and retrieval, and contains huge opportunities for mistakes. In order to stay compliant with accepted principles like the three-way match, it’s essential to be able to quickly find documents and their counterparts. In a paper system, the clerk matched the PO with the Packing Slip to ensure that what was ordered is what was delivered, and then that was matched to the Invoice to confirm that the pricing is correct. At high volume, this meant taking three stacks of paper and matching them based on the original Purchase Order number. Tedious, right?
Paperless Accounts Payable solutions does the three-way match automatically. And while there is cost savings involved with going paperless, using automated Accounts Payable systems is really about saving time and reducing errors. A good AP software solution not only instantly matches PO to Invoice to delivery slip, it also allows you to set up digital approvals, earn discounts for early Payments, and best of all, invest in growing your business.
Take a SnapAP Test Drive
So what’s the bottom line when it comes to handling high volume? The old-fashioned paper-based Accounts Payable process required one fulltime employee per 8-12K invoices per year. Using the SnapAP automated and paperless process, that ratio is one employee to 80-90K invoices per year! Plus the whole process is streamlined and simplified. Give it a try today!