Go Green with Document Management

5 Easy Steps to Automate Your Accounts Payable & Eliminate Paper

Posted by Mike Paperalt on Apr 24, 2019 4:49:05 PM

How Much Do Manual Invoice Processes Cost?  Is it Worth It?

What if you could automate your A/P Processing? If you’re thinking about digitizing invoices, you’re not alone! The Institute for Finance & Management (IOFM) indicates that 70-80% of invoices are still paper.

  • Fact: 66% of Invoices are on paper
  • Fact: $11.66 is the average cost to process a paper invoice
  • Fact: 62% of labor costs are consumed by A/P

So, what are you supposed to do?  You can’t change the way people invoice you.  They send them in paper, so you have to process them that way, right?  WRONG!  You can change the way you process them.  Accounts Payable automation helps you enhance A/P process efficiency, improve control of information, and save money.  Here’s how…


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Topics: AP Department Solutions, Paperless Accounts Payable

Is Your A/P Department Operating at Its Full Potential?

Posted by Mike Paperalt on Jul 26, 2018 5:25:00 PM

Is Your A/P Department Operating at Its Full Potential? 

If your business is like most, your AP department is wasting time, money and ecological resources with processing paper invoices. You’ve probably heard about  the benefits of having a paperless accounts payable system, but with all the paper currently in AP, it seems downright impossible to go paperless.  Yet Accounting Process Improvement begins with paperless AP!

While switching to a paperless accounts payable process can be a challenge, those challenges can be mitigated by doing it right from the outset (and by using a knowledgeable vendor to help you make the switch). Going paperless in the accounts payable department has advantages across the board (check out the infographic below).

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Topics: AP Department Solutions, Paperless Accounts Payable, Invoice Processing, A/P Automation

How to Streamline Back-Office Functions - Start with A/P

Posted by Mike Paperalt on Aug 3, 2016 4:09:51 PM

How to Streamline Back-Office Functions – Start with A/P

Back-office functions keep your company operating, but add little or nothing to growing your business.  However, when properly managed, these back-office functions can improve your bottom line – nowhere is that more evident than in the accounts payable department. 

The reason is simple…no other department processes the volume of paper that accounts payable departments process.  Daily, weekly and monthly, invoices arrive that must be approved, scheduled, signed and paid on time.  These long, manual multi-touch payment cycles that require staff time, multiple copies, signature approvals, printing, postage, mailing and filing of paper documents and accompanying back-up add up to steep back-office costs.

As organizations grow and change, suppliers increase, resulting in more incoming invoices – and this is not a problem that is limited to large, multi-location companies.  Even small businesses can get bogged down in outdated paper and processes. 

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Topics: AP Department Solutions, Paperless Accounts Payable

The Hidden Costs of Paying Invoices

Posted by Michael Coppola on May 13, 2016 5:46:33 PM

The Hidden Costs of Paying Your Invoices

Do you still process your invoices by hand?  If you do, you’re not alone, but all indications are that soon manual invoice processing will be a thing of the past.  So…if you’re not looking at alternatives, maybe it’s time to start.  Our white paper can help you.

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Topics: Paperless Accounts Payable

Benefits of Paperless Accounts Payable Get A/P Employees on Board

Posted by Michael Coppola on Jan 28, 2016 5:09:22 PM

Benefits of Paperless Accounts Payable Get A/P Employees On-board

Going from traditional paper-based invoice processing to paperless processing brought these benefits for one manufacturing company:

  • Reduced invoice processing time from more than one hour down to 15 minutes.
  • Achieved a 90 percent classification accuracy
  • Lowered the processing cost per invoice from about $63 to less than $16

Just how were they able to achieve such results, and can your business expect a similar outcome from going paperless?  The answer is yes.  And, no.

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Topics: Paperless Accounts Payable

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