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    • The Significance of Three-Way Purchase Orders: Enhancing Efficiency and Accuracy with AP Automation
    • Revolutionizing Efficiency: The Comprehensive Benefits of Implementing Accounts Payable Automation in Organizations
    • The Power of Efficiency: Calculating Time and Cost Savings in the Accounts Payable Process with AP Automation
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    • Why BlueCreek Software: A Game Changer for Efficiency with Vision360 Enterprise
    • Revolutionizing Accounts Payable: The Power and Potential Concerns of AI Invoice Processing
    • Navigating Reluctance: Understanding Why Companies Hesitate to Implement Invoice Process Improvements
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    • Getting Started: Steps to Streamline and Optimize the Entire AP Process
    • Unlocking Efficiency and Savings: The Benefits of Invoice Optimization
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It's Month End Again!! Can This Really Help??

7/29/2022

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It's Month End Again!! Can This Really Help??

Month-end close is critical to an organization’s financial health and performance. The ability to know your financial status accurately and consistently – including expected purchase costs, cash flow, and outstanding liabilities – will determine your profit/loss and inform key business decisions. Accounts Payable (AP) plays an integral role in the process.
Root causes of inefficient manual paper-based month-end processing.
Lack of Visibility.
Tracking current progress into financial close and accounts payable processes is essential for every organization. Without real-time updates, finance and accounting leaders may find it difficult to navigate the status of essential close tasks and AP transactions.
Increased Errors.
The more manual your tasks are, the more susceptible those tasks are to errors. Relying on human intervention for tasks that can be easily automated not only burdens accountants to repetitively track transactions and reconcile them, but it also increases the potential for violating compliance regulations.
Ineffective Controls.
Financial data affects the entire organization. Accounts payable teams must manually upload invoices and transactional updates into ERP systems, while accounting teams are dependent on the general ledger information when performing reconciliations to ensure their internal controls are being met. Without a standardized and automated process in place, F&A teams may find difficulty in achieving comprehensive compliance.
How AP Automation helps.
Closes are faster.
An automated AP system enables invoices to flow into the organization quickly and automatically, so all transactions are accounted for, even up to the last minute, without requiring AP to manually key anything in. This enables Accounting to know what is really going on at any point in time, and it can use that real-time info to close faster.

Visibility
Visibility across all invoices enables the AP and Accounting departments to see which invoices have been received, which need to be approved and where they are in the process. Outstanding liabilities are no longer a guessing game, but rather are accurately captured by the system. A centralized invoice receiving process and automated routing capabilities mitigate the problem of lost invoices and, more importantly, the need to hunt for them before routing them to approvers.

Better fraud prevention.
The ability to detect anomalies, which is enhanced by AI capabilities, machine learning, data validation and enforcement of business rules, helps to prevent fraud.

Fewer errors
Manual data entry inevitably results in human error. With electronic data capture technology, you get over 99% accuracy on every invoice. Plus, the automation system flags any suspicious invoices for manual review. That lets you catch potential problems and take care of them early on.

Real-time reporting and data analysis
With financial automation software, users are able to view real-time dashboards that display vital information regarding the status of a financial report. With access to real-time data, a business can make decisions based on factual data at any time without waiting for the end of the month to have access to accurate data.

Vision360 Enterprise is an AP Automation platform intended to assist in streamlining all aspects of accounts payable invoice processing. For more information consider attending one of our information webinars or contact us directly and we'll be happy to answer any questions.
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    Vision360 Enterprise  Accounts Payable Automation Solution by BlueCreek Software reduces time wasted chasing down paper invoices by automating invoice approvals, eliminating manual data entry, eliminating paper invoices and reducing processing costs.

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  • HOME
  • SERVICES
    • ACCOUNTS PAYABLE AUTOMATION
    • BUSINESS PROCESS AUTOMATION
    • DATA TRANSFORMATION
    • SPEND MANAGEMENT
    • SUPPLIER PAYMENTS
  • ACCOUNTING SYSTEMS
    • AS400
    • EPICOR
    • EPIC EHR/EMR
    • INFOR
    • JD EDWARDS
    • LAWSON
    • MEDITECH INTEGRATION
    • MS DYNAMICS 365
    • MS DYNAMICS GP AP AUTOMATION
    • MS DYNAMICS NAV INTEGRATION
    • MS DYNAMICS INTEGRATION
    • NETSUITE AP AUTOMATION
    • ORACLE INTEGRATION
    • PEOPLESOFT INTEGRATION
    • QAD INTEGRATION
    • QUICKBOOKS INTEGRATION
    • SAGE INTEGRATION
    • SAP INTEGRATION
  • INDUSTRIES
    • AGRICULTURE
    • CONSTRUCTION
    • FOOD & BEVERAGE
    • HEALTHCARE
    • HIGHER EDUCATION
    • HOSPITALITY
    • LIFE SCIENCES
    • MANUFACTURING
    • RETAIL
    • TECHNOLOGY
    • TRANSPORTATION
  • RESOURCES
    • Evolution of Invoice Processing: Tracing the Shift to Automation
    • The Costly Pitfalls of Manual Invoice Processing
    • Maximizing Cost Savings: How CFOs Can Leverage Invoice Process Improvements
    • A Day in the Life of an Payables Department: Unveiling the Essentials
    • The Significance of Three-Way Purchase Orders: Enhancing Efficiency and Accuracy with AP Automation
    • Revolutionizing Efficiency: The Comprehensive Benefits of Implementing Accounts Payable Automation in Organizations
    • The Power of Efficiency: Calculating Time and Cost Savings in the Accounts Payable Process with AP Automation
    • Vision360 Enterprise: Transforming Controllers' Roles and Why They Love It
    • Why BlueCreek Software: A Game Changer for Efficiency with Vision360 Enterprise
    • Revolutionizing Accounts Payable: The Power and Potential Concerns of AI Invoice Processing
    • Navigating Reluctance: Understanding Why Companies Hesitate to Implement Invoice Process Improvements
    • How AP Automation Transforms Finance at Every Level
    • Getting Started: Steps to Streamline and Optimize the Entire AP Process
    • Unlocking Efficiency and Savings: The Benefits of Invoice Optimization
  • CONTACT
    • LETS TALK
    • TRUST & SECURITY
    • SUBMIT RFP
    • SUPPORT
    • ABOUT
    • CAREERS