WEBCON

Why automate Accounts Payable

Why automate Accounts Payable

In many companies, Accounts Payable processes are still carried out manually and are very paper-intensive. Manual procedures quickly show their limitations, especially as the volume of invoices goes up. That’s where process automation comes into play – with removing manual tasks, improving visibility and providing better control over financial data.

The benefits of automating and managing the invoicing process are substantial. They include:

  • Reducing the amount of time spent by any single employee on any one invoice (which results in significant cost savings)
  • Ensuring that invoices are electronically verified, approved, and assigned – the physical movement of documents is made unnecessary
  • Monitoring where in the process any given invoice is, and automatically handling escalations, alerts, and deadlines
  • Reduced load on reviewers/approvers since they only see the invoice they truly need to see; “FYI” traffic is reduced to what’s truly necessary
  • Enforcing compliances with corporate policies and governmental laws
  • Enhanced clarity of activity and results, and the possibility of easy and rapid improvements
  • Eliminated rekeying of data between disparate systems and associated errors
  • The ability to time payments in order to maximize cash management and capture early-payment discounts
  • Opportunity to engage your AP department in more strategic, value-driven work thanks to the time savings

 

This webinar we will show you how our low-code platform WEBCON BPS can make Accounts Payable better, as in faster handling of invoices, easier work for users, the outright elimination of unnecessary steps, effortless auditability — all of which can be accomplished without the loss of flexibility and control.

We’ll put purchase requests and invoice handling front and center during this webinar, and take you through how we can automate things like:

  • Registering and scanning paper invoices
  • OCRing scans and PDF invoices
  • Routing invoices through multiple reviews, verifications, and approvals
  • Determining appropriate reviewers/approvers based on origin, amount, and other rules
  • Assigning invoice according to the chart of accounts
  • Controlling assignment based on measurements
  • Interfacing with the financial accounting system

You’ll see the following WEBCON BPS functionality in action:

  • OCR, barcode, and scanner support
  • Modeling any invoice task workflow, including multi-level assignments that analyze the account chart and analytical descriptions (measurements, CAPEX, OPEX, etc.)
  • Modeling any invoice approval workflow, including a multilevel conditional workflow that takes into account invoice parameters (e.g. limit amounts, cost categories, etc.)
  • effective change management, ranging from individual task delegations to formal periods of substitute task workers
  • Modifying existing workflows when business requirements change, even while work is in progress
  • Full monitoring of registered and processed invoices, including the history of approvals and implemented changes

About the Speaker

Mike Fitzmaurice – WEBCON Chief Evangelist & VP North America, has over 25 years of experience in consulting, engineering, marketing, evangelism, and IT management. Having spoken at countless international conferences, hosted numerous expert sessions and webinars, he is one of the most recognizable and prolific members of the SharePoint community worldwide, specializing in process automation and low-code development. His 11 years at Microsoft included helping launch the first four releases of SharePoint and positioning it as a development platform.

 

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