How Document Management Improves Accounts Payable Processes

accounts-payable

The system of document management that your company uses dramatically influences the ease of finding, submitting, and processing accounts payable. For the best ease for this workflow, better document management should be implemented.

Look at Manual Processes

One of the best ways to make an office more productive is to decrease the amount of manual labor that has to be done. Automation is making many tasks automatic and not dependent on human workers. There are still many tasks that require human intelligence to perform them. But, document management is one aspect of work that can be automated. Several manual processes are required when document management is done by hand. Making printouts, collating the pages, creating file space for them, organizing them, and finding and retrieving them later no longer have to be done manually, saving countless hours of work time.

Better Involvement in the Process

When an employee manually sends an invoice to the accounts payable personnel, what happens to it? How long will the process take? Frustration is common in this scenario, but this doesn't have to be the way this process is done. When all of the invoices are digitally managed, they are faster to submit, faster to check or sign off and quicker to get paid. This also allows for the submitter to check on the progress of their submission and see where it is in the flow of invoices. This is a way to make the whole process more transparent so that the time that would be lost to asking again and again about the status can be used for something more constructive.

Keep the Process Simple

When an invoice is not submitted on time, is sent to the wrong person, or gets lost, mistakes get made. Funds are not released on time, and a lot of people can get angry and frustrated. Having a digital document management system allows for a streamlined system where the numbers and other data are always easy to get and to see. This reduces the human error that could happen when the process is overly complicated.

If you want a better, faster document management system, contact us to find out about converting your documents to digital versions that are easy to file and find later.