For many businesses, accounts payable processing like sending and receiving invoices is a standard practice. But streamlining the workflow for these invoices is near impossible. Most invoices arrive at your office through different formats i.e., mail, email, etc. They are likely then scanned manually or the attachments are saved to a drive. All of this can create holes in security and add on time-consuming, tedious tasks. This way of doing things lacks standardization, so an invoice can often become difficult to track down later on. As a result, keeping invoices straight is quite a challenge. Invoices can become misplaced or even be accessed by someone who does not have the authority to do so. Luckily, there is a better way to do things; automated accounts payable processing from RDM. We specialize in accounts payable processing for Harrisburg and the surrounding areas and are here to tell you more about it and how it can make your accounts payable more efficient and more secure.
For one, by updating and outsourcing your accounts payable processing, you can enjoy audit preparedness and a more streamlined, more organized workflow. All of your invoices and related documents including POs, check requests, and more will become cataloged and easily accessible by those with set permissions. In the event of an audit, you will have everything you need; no need to rummage through old files and receipts.
With automated accounts payable processing you can also eliminate the risk for human error. When you put your invoices through manual processes for approval and payment, the possibility for human error is high as are the wait times. An invoice needs to be approved before it can be paid, but when an invoice needs to be manually routed, approved, and signed, there is a significant risk of error. By automatically routing an invoice from person to person electronically, approval processes can be carried out much more smoothly. Plus, since the invoice is digitally stored on-premises or in the cloud, there’s no fear of the invoice being lost along the way.
Now that your invoices are automatically captured and indexed, tracking invoices through each stage of the process is simple and secure. With paperless accounts payable processing, credentials are required in order for someone to view an invoice. As a result, only those who are authorized will be able to view the invoice.
Are you interested in learning more about accounts payable processing for your Harrisburg area business? Call Resource Data Management at 215-953-5175 or contact us and set up your Free Analysis.