Adapting Your Accounts Payable Processes to Meet New Demands

Accounts Payable (AP) is a necessary and important part of any organization. In today’s competitive environment, it’s imperative that AP professionals adapt to ever-changing technological demands and customer expectations in order to remain competitive in their respective industries. Just as an athlete must train and build up their core muscles, so too must a business tune and strengthen their AP processes to ensure smooth operations, fast response times, and fewer mistakes that could cause business operations to fail. Streamlined AP processes help businesses overcome many hurdles, achieving substantial benefits that have a direct impact on the organization’s bottom-line and overall performance.

AIIM Research finds that 81% of businesses feel the finance areas of AP and AR are sensible places to begin when evaluating ways to implement process improvement. Additionally, 91% feel their review and approval processes are prime candidates for assessment and improvement.* Record Storage Systems’ electronic document management solution offers capabilities that help AP departments of all sizes increase productivity, shorten cycle times, reduce overhead costs, improve visibility and comply with financial standards and audits:

• Workflow: Ability to automate even the most complex invoice to enable quick deployment.
• Mobile: Lets users work when, where and how they want.
• Predictive Analytics: Uncovers intelligence hidden in data through visual dashboards and predictive analytical insights.
• Capture: Consolidates invoices, bills of lading, contracts, tax documents and more, regardless of source, and automatically extract data from standardized forms.
• Electronic Forms: Creates and host forms directly from the system for use by internal or external customers.
• Integration: Seamlessly transitions data to/from existing or future ERP and other financial applications, eliminating duplicated efforts and information silos.

So what’s next? We get it, change can seem daunting. But what if you had a partner ready to help find an ideal Accounts Payable solution to help your staff eliminate inefficiencies, increase productivity, lower costs, and stay compliant? Record Storage Systems can help you navigate the new opportunities available in the AP document management and automation arena and discover which solution is best for you.

*Business Process Automation in 2017: Designing an Intelligent Workplace