Who would imagine that removing paper from the workplace would be more challenging than putting a man on the moon? That is the unfortunate reality in corporate financial processes that have historically been mired in labor and paper intensive process. According to IOMA, it costs the average company more than $12 to process a single invoice.

Accounts Payable departments are making great strides in automating their operations by leveraging Microsoft software already available in your organization. According to IOMA, world-class Accounts Payable departments can process upwards of 80,000 invoices per person per year. This efficiency translates into a cost savings of more than $3 per invoice.

These cost savings are derived from many factors including:

• Lowered transaction processing costs
• Improved payment accuracy
• Improved capture of payment discounts
• Streamlined audit and compliance processes
• Reduce IT infrastructure costs
• Eliminated or reduced storage costs

By utilizing Microsoft software that you already own, KnowledgeLake can help your Accounts Payable department achieve these efficiencies and cost-savings. We have helped hundreds of companies realize a full ROI in as little as 90 days.

"We now receive invoice approvals within hours of our initial request, rather than weeks, costs have dramatically decreased and we are able to process more invoices with less people," says Larry Bryant, AP Team Leader, Amdocs.