What are the Challenges That Your Accounts Payable Team is Struggling with When it Comes to Processing Vendor Invoices?

Let's face it, accounts payable teams are forced to do much more these days with far less resources than those of the past. When things go wrong, when vendors don't get paid on time or get paid at all - who's the one that always gets the blame? Yup, AP.

This is just a short list of challenges in accounts payable departments. Which ones can you relate to? What would you add to this list?

• Getting supplier invoices approved on time
  
• Matching invoices against purchase orders
  
• Entering invoices into the ERP system for processing
  
• Dealing with all the paper and back & forth
  
• Rising costs to manually process vendor invoices
  
• Lost discounts due to inefficiencies in our process
  
• Late payments and extra fees due to our slow process
  
• We have no visibility or control in our approval process
  
• We're growing and looking to add staff to handle the increase in invoice volumes
  

​What else can you add to this list?