You are handed an invoice from an employee; the document reaches your hands – slice – paper cut. This painful nuisance shall plague every hand sanitizer squirt, every soapy post-bathroom wash, everything that you do (until it heals of course). Paper can be painful, but we are here to tell you about a painless paper-cut of a different variety. At KnowledgeLake, we understand the importance of digital advancements and the need for automating accounts payable.
Accounts Payable Challenges
In the current economy, more people are trying to do more with less. This means that some business decisions are made to rely on fewer resources in an attempt to use less (money, time, etc.), without considering the outcome. Many companies also show a lack of integrated business systems. Far too often, people are spreading themselves too thin on too many different platforms and lack a defined business process.
Addressing These Accounts Payable Challenges
As in life, there are many ways to approach an obstacle. At KnowledgeLake, we provide your business with an easy integration process that brings your documents and information to one, easily accessible place. We combine all of your content found on various papers, forms, emails and files (or anywhere else you may have pertinent information hiding) for quick reference, retrieval and archival. This allows us to give real-time reporting and metrics, which are helpful tools that can prevent your business from simple errors like duplicate invoices and other payment issues.
Key to Automating Accounts Payable Success
Automation is key. Accounts Payable Automation is critical. Automation is best. We don’t know how else to make the importance of automation more clear. It improves quality and reduces errors, which saves you and your business time and money. To further emphasize our findings, we’ll leave you with this webinar to dive deeper into the challenges, and more importantly, the solution to manual AP processing:
As you can see above, with our best-in-class processing, we can cut the time it takes to process payments by roughly twelve days. That means more time for you to focus on what really matters. Still interested in learning more, or want to discover which method is best fit for your business practices?