Failing to manage accounts payable obligations in a timely manner can be very damaging to a company’s credibility and accountability. For this reason and many others, businesses are turning to document management software to improve all AP processes, including purchase order distribution, customer invoice management, general ledger coding and three way matching. Innovative document management solutions can help accounts payable departments run with efficiency to ultimately save the department time, stress, and money.
With the advent of advanced document management software, the need for accounts payable departments to rely on paper documents for management and processing has been proven inefficient and wasteful. Today’s most trusted document management systems allow for accounts payable departments to get more work done in less time by incorporating both invoice processing and payment automation. Not only do these programs create a more efficient workflow, but nearly every company will find that their reliance on paper documents will drop dramatically. Since less paper is being used, this means that companies will be able save a good deal of money as they will no longer need to purchase as much paper, ink, printers, storage, staples, and everything else in between.
Key features of document management software such as three-way matching, optical character recognition and web forms processing can further expand the efficiency of the accounting department. Cutting-edge software applications can seamlessly integrate with other financial applications such as QuickBooks, and even provide advanced search capabilities, automatic filing, and heightened security.
Nearly every aspect of your accounts payable department’s duties can be automated and simplified by implementing the right document management solution. Through a single, content management application, users can streamline every function needed in an accounts payable department, from creating a quote to submitting final invoice payments. Having all of these functions in one place will make life a lot easier for everyone in an accounts payable department. With all of this considered, it is a wonder why any business would maintain their paper-based ways. For more information on the benefits of implementing document management software to increase AP performance, please visit www.square-9.com.
A leading provider of Enterprise Content Management Systems, Square 9 was founded in 2001. Continually improving their highly recognized document management solutions, Square 9 has grown to supply a wide variety of clients from around the world with the very best document driven solutions on the market today.