Paper is the enemy of process efficiency and visibility.

​Every time you have a piece of paper somewhere floating around in a process, no one else in that process knows exactly where it is – so, suppliers call to get a payment status and you have no way of checking where the invoice is in the review and approvals process. Perhaps this means the supplier will call again, perhaps they’ll send a copy of the invoice, perhaps they’ll also call the person who ordered their product or service – either way, there is likely to be additional time wasted and increased probability of paying an invoice more than once.

​Paper also means the grip you have on cash flow is compromised – if you don’t know which invoices are out there because suppliers send them directly to the person who ordered, how do you know what to accrue for or what your outstanding liabilities might be?

Fast Fact: Main drivers for automating business processes?
Top 3 are:
1) reducing operating costs – 67%
2) reduce employee admin time – 60%
3) help the organization make revenue gains – 44%

​About Vision360 Enterprise and BlueCreek Software: BlueCreek Software is the developer of industry leading accounts payable automation system, Vision360 Enterprise. Vision360 Enterprise provides accounts payable automations services, systems and solutions to leading companies across the United States and Internationally. For more information about our Vision360 Enterprise accounts payable automation solutions please contact us www.Vision360Enterprise.com or call (603) 437-1400. 

Accounts payable automation’s attractiveness as an investment is well documented. Studies by The Hackett Group, the Institute of Finance and Management, Nucleus Research, Aberdeen Group, the Institute of Financial Operations and many other independent industry experts document broad and substantial cost savings.

In a straightforward example, the Aberdeen Group’s May 2012 report, AP Invoice Management in a Networked Economy, measures efficiency leaders at less than $2 to pay a bill, while the majority pays $6 - $25 or more, indicating available savings of more than $40,000 for every 10,000 invoices annually in most organizations. How can the majority resist the attraction of investing in technology that pays for itself? Creating your own business case for change in how you do AP is a good starting point – there is enough evidence to give you confidence that your case will be compelling.

In addition to the reduction of personnel costs for the capture and entry of invoice data, organizations also benefit from a reduction in duplicate invoices, increased discount capture, and the elimination of late payment penalties. So where should you look when estimating the benefits that can justify your investment in end-to-end AP automation?

Here are some of the common areas that yield the greatest return:

• There is great value in a single, consistent, automated process for all types of invoices, paper and electronic. Without this technology, organizations rely on different processes, managed by different people, with different methods of viewing and interaction.
• The capture, extraction, validation, and entry of invoice data automates the most painful part of the process. This is where errors multiply, where delays occur, and where the headcount costs are visible. It is universally viewed as a low-value activity.
• Automated purchase order matching removes low-value work from the outset. Successful matches result in straight-through processing.
• Workflow for discrepancy resolution and approval is the heart of the process. It engages all employees, so it has to be easy to use. It requires complex tasks, such as ensuring valid accounting codes and enforcing approval limits and hierarchies. This is where segregation of duties must be embedded, and where fraud can be trapped
• A self-documenting audit trail removes the painful task of supporting audits and responding to inquiries.
• The real-time status of all invoice liabilities, alerts and escalations bring focus on priorities before others notify you. It positions AP to perform a fast period close

About Vision360 Enterprise and BlueCreek Software: BlueCreek Software is the developer of industry leading accounts payable automation system, Vision360 Enterprise. Vision360 Enterprise provides accounts payable automations services, systems and solutions to leading companies across the United States and Internationally. For more information about our Vision360 Enterprise accounts payable automation solutions please contact us www.Vision360Enterprise.com or call (603) 437-1400.