Automating Accounts Payable

Automating accounts payable datascan

In any medium sized business there will be a variety of departments.  Most companies will have a marketing department that like to spend money building the company brand.  The Sales department will often offer special deals that erode the gross margin.  HR departments will look for money to spend on training courses.  It seems like each department likes to spend money just a soon as it makes it, this is just the way the business world works.

However, there will be one department whose sole aim is to save and accumulate money and that will be the finance department.  Which makes us wonder why are some accounts departments throwing away money every week!  Yes, that’s right – wasting money each and every day.

Save time and save money

Having staff using their time keying in information from paper documents is not only labour intensive it can be a waste of a valuable resource.  It was a requirement years ago when there was no alternative but with great advances in automatic data capture services there is really no need for manual inputting anymore.

Automating the accounts payable process will result in less errors and little duplication.  And when you streamline processes you will automatically lower your costs.  Believe me, your team will thank you. The result will be happier staff that can concentrate on more challenging work.

Data Security

The processing of personal information is well covered when it comes to GDPR compliance.  While manually managing information you can still be compliant, automated systems will help in the processing and storage of personal details.  Digital files mean you can control access to data and eliminate potential privacy issues.

No investment needed

While you are improving your workflow, saving time and money you may wonder if there is a need for an upfront cost in changing to automated data capture.  The good news is that there is no need to invest in new software and you only pay for the work completed so it is very cost effective.

The data capture process identifies critical information from paper or digital files.  It then allows it to be uploaded into your accountancy software.  Thus saving all your information securely in one location easily accessed by authorised staff and remote workers.

With less time spent inputting, less time wasted searching and more secure processes we think it is something that every financial manager would like in their office.

For more information on our service why not give our friendly team a call and see how we can make it work for you.