5 Ways to Improve Your Accounts Payable System
It’s pretty obvious the best way to improve efficiency is to invest in Accounts Payable software. But let’s break it down to the nitty-gritty and see how going automated (AKA paperless) will improve your AP system. The devil’s in the details, after all.
The first way is to utilize the technology available today to increase efficiency. Paperless Accounts Payable allows you to enjoy full AP automation in a snap and keeps your Accounts Payable seamless. SnapAP has your P2P solutions for Accounts Payable discount capture by ensuring your electronic Payments go through on time.
To further streamline AP automation, SnapAP has a built in Expense Report process that enables Employees to not only submit their expenses from anywhere, but also approve Expense Reports from anywhere. With SnapAP, Employees can have their expenses paid within 24 hours of submitting their Expense Report; approvals can happen from anywhere, anytime!
Automated Accounts Payable is Easier than You Think
AP automation is expected in today’s business world, and it’s a beautiful thing when your automated Accounts Payable process is straightforward. This creates happier Employees, better relationships with Suppliers, and quicker and more accurate compliancy. So our second improvement is going digital.
When you use automated AP software like SnapAP, you get all this while also enjoying permanent cost savings. A successful Accounts Payable solution allows for electronic Payments over various platforms and automates Payment processing to simplify tracking.
And while you’re at it, get your Suppliers automated, too. Our third recommendation not only means no more scanning Invoices, it also means easy tracking of where a document is in the process. You can’t fault your Suppliers for wanting to know the status of their Invoices. With SnapAP Accounts Payable software you will reduce Supplier inquires to almost nothing! They can simply look at their own Invoices online and see the real-time status. Each step is digitally recorded and linked to all relevant records, making accountability a breeze.
Everyone Who Needs to Know Can Access the Data 24/7
The fourth way is to go mobile and online. SnapAP includes features like automation of daily exchange rates, tracking multiple time zones and currencies, multiple languages, and it’s all mobile device friendly. It allows for online Approvals, preventing delays in the processing of Invoices so you can take advantage of early Payment discounts. This also means a huge reduction in phone calls asking for information on a document…it’s all accessible online.
Our fifth suggestion for improving your AP process is to make good use of your data. Automated AP solutions means digital information can be collected and analyzed in whatever way you need. SnapAP Cash Manager lets you focus on high-value analyses, insights, and cash flow optimization – and spend less time on the draining manual process of Accounts Payable. Automate, track and view Payments, approvals, and reports, see your Account Payable liabilities, vendor aging reports, and bill and check register reports in real time. This is your automated Procure-to-Pay solution that gives you a real-time picture of cash flow.
Enjoy the SnapAP Advantage Today!
With SnapAP Accounts Payable Software all the services you would expect from an automated Accounts Payable solution are here. It’s easy to install, and easy to use. Go paperless with SnapAP automated Accounts Payable software and watch your Accounts Payable process become streamlined!