Take Our AP Challenge: How Long Does it Take Your AP Staff to Manually Key and Enter Every Single Supplier Invoice Into Your ERP System for Payment Processing?

Take Our AP Challenge: How Long Does it Take Your AP Staff to Manually Key and Enter Every Single Supplier Invoice Into Your ERP System for Payment Processing?

Of course this answer will vary company by company, industry by industry and person by person. The fact of the matter is that it does take quite a bit or time to enter each and every supplier invoice into the ERP system and some are better and faster at this than others.

If you look around any accounts payable department you are likely to see file cabinets, bankers boxes and stacks of paper invoices all in vary degrees of completion. One of the most tedious, time-consuming and error-prone steps and expensive steps in the accounts payable process is manually keying every single invoice into the ERP system for payment processing.

Now a lot has already happened prior to this step (routing, coding, approvals, PO matching, exception processing, variances, etc), but for the moment lets focus on invoice entry.

It's now time to enter each invoice. So the AP Staff roll up their sleeves and starting typing away, click, click, click, vendor name, vendor number, invoice number, invoice date, purchase order number, gross amount, freight, taxes and amount due. This could literally be hundreds of keystrokes per invoice!

Multiply this by the number of invoices that get entered each day as compared to the amount of time spent by your AP Staff manually keying every single invoice and you can start to see where this very tedious process can quickly become very, very expensive!

There have been a number of studies performed by Aberdeen Group, PayStream Advisors and PYMNTS about how much time it takes for AP Staff to manually process and key supplier invoices on a daily basis and the results are staggering. On average, AP Staff spend two-thirds of their day doing data entry! In an 8 hour day, that is 5.5 hours a day spent typing on a keyboard.

Not only is this not a good use of time. This is incredibly costly and expensive. Your AP Staff are trained, skilled and experienced in finance related matters, yet their skills are under utilized and they become data entry clerks.

In this day and age, organizations are seeing high turnover rates, struggling staffing shortages, hiring bottlenecks and continual rising costs. There are ways to offset these conditions and make way for process improvements that can be embraced by all.

How much time does it take you AP Staff to print or save invoices ever day? What if I could show you that we could completely eliminate this step from your AP Staff and free up this time so that they can focus on more important tasks related to the financial well being of your organization!

Is manual data entry making the best use of your AP Staff's time?

There is a better more efficient and cost efficient way!

---

Interested in learning about ways to eliminate the need for AP Staff to manually key invoices into the ERP system for processing. Consider joining our next webinar we'll share some tips and ideas.

Join Our Next Webinar

---