Companies that continue to rely on manual invoice processing, are taking up valuable time compared to companies that are using automated workflows as part of their invoice management. Making the switch to an invoice automation solution like OnePosting, can not only save your team time, and your business money, invoice automation can also drastically improve your invoice management process.
Regardless of the size of your business, adopting invoice automation software can help your business grow, while allowing your team members to focus on other tasks that can contribute to that growth.
Here is how invoice automation can help improve your invoice management process.
Centralize Your Records: One of the biggest issues with manual invoice processing, is that records are often scattered, and physically stored in various locations around the office. Not only does this cost businesses money, it also takes up physical real estate that is costly and holds teams up in finding specific invoices. With an invoice automation solution like OnePosting, you can house all of your invoices and supporting documents in one central place that is accessible to your team.
Reduce Manual Data Entry: Any AP team is aware of the manual process of inputting information pertaining to approved invoices into an ERP system. This is not only time consuming, but it also increases the risk of errors and duplicate entries.
Conduct Invoice Matching: With OnePosting, you can have the confidence in our accurate and efficient invoice matching. With invoice automation, you can match invoices against a corresponding purchase and help prevent fraud. Additionally, you can set up automated approval workflows that allow for human intervention if certain issues are flagged within the process.
Speed Up Approvals: With manual approvals, many businesses experience delays, lost invoices and other issues related to the manual process. With invoice automation, you can obtain approvals faster, and with automated workflows you can set alerts to the appropriate approvers so approvals can be actioned right away.
It’s time to do away with the physical burdens and time consuming processes that manual invoice processing entails. As you can see, invoice automation can bring accurate, and reliable invoice management practices to your team to ensure that your business is running successfully.