Reduce the Cost of Your Accounts Payable Workflow

Reduce the Cost of Your Accounts Payable Workflow
In 4 April 2017 - Written By

Accounts Payable or what is known as AP is one of the work processes that wastes lots of money and papers. In addition to the wasted time in the processes itself.

So, why not to implement a paperless system that can reduce the exerted effort, time, and money instead of the manual workflow?

In the following few lines, iDOX will tackle the hidden costs in your AP workflow that you need to avoid and the advantages of automating the AP workflow.

  1. Approvals:
    Even the most normal and simple approvals such as purchasing orders, require lots of costs if it is handled manually. So, if you implement a proper document management system within your organization, your employees are expected to perform higher than ever,
  2. Discounts:
    If you go through automating the AP workflow within your organization, you’re expected to get advantage of the discount which you usually miss because of the long time. It only requires to enter the invoices into the payable system manually,
  3. Effective Accountability:
    Handling things manually in the AP workflow affects the processes within the accounting department. For instance, employees will find it hard to meet the deadline, the approval processes won’t be clear for all the employees, and things will get delayed which means that the cost will surely increase.

The Benefits of Automating AP Workflow:

  • The workflow cycle will be faster,
  • The workflow cycle will be less expensive,
  • The workflow cycle will be more efficient.

iDOX document management system assures you an effective Accounts Payable workflow.