Eliminate time consuming, costly, and error-prone paper invoice processing through automation. This enables huge business benefits, from increased visibility and control in Accounts Payable, to improved operational efficiency. The key to minimizing bottlenecks and maximizing success in Accounts Payable automation? Preparation, preparation, preparation.
By following some simple key steps, you can ensure a pain-free transition to automation and achieve an end result that really delivers for your business.
The 7 Golden Rules for Accounts Payable Automation will help you create a framework for making the key decisions that will ultimately determine the success of your project:
- Agree on the scope - define the core areas and processes you want automation to cover.
- Analyze existing processes - analyze your current invoice handling and payment process, engage the key stakeholders, and assess their roles.
- Sweat the details - think carefully about how you will capture invoice data and the workflow for pre- and post-processing.
- Standardization is more important than centralization - be strategic in determining what needs to be centralized.
- Know your priorities - plan around the four key priority areas: control, visibility, efficiency, and agility.
- Map your priorities - understand what you have, what you want, and how to articulate your requirements to vendors.
- Be realistic - know what you have to work with and thoroughly analyze the available solutions to set accurate goals.
