Invoice processing is an unavoidable part of doing business. Managing the accounts payable (AP) process can be time-consuming, resource-intensive, and costly. Manual data entry and convoluted approval workflows can create opportunities for errors to creep in and costs to spiral out of control.
If, like most Australian organisations, your workforce has evolved to include a ‘work from home’ model, then you may have had to rethink your business processes, including Accounts Payable.
While the benefits of AP Automation might be pretty well known, we’ve identified five things that you may not have known about automated AP.
No one enjoys doing manual, repetitive tasks day in and day out, with little opportunity to contribute creatively to the business. The invention of automated processes to take on this administrative burden has come as a welcome relief to people who crave more variety and less tedium in their working day. Automation
Accounts Payable Automation is relevant to any business in Australia with staff who touch invoices at some point during their work day. From opening mail, signing invoices, keying data into finance systems or filing them away, Invoices are a necessary evil to doing business. Because of this, most businesses Upstream speak
Although building and construction companies are typically quite fast-paced in their operations, the industry itself tends to rely on traditional methods of documentation and paper processes.
David Barton shares out how adapting to the digital age and implementing automation can improve productivity for processes such as Accounts Payable, Document Management, Staff certification and job allocation, Onsite Visitors and more.
Is your business unknowingly losing money to common invoice scams? Could you detect a fake invoice easily? Last year alone Australian businesses lost millions of dollars to invoice scams. Accounts Payable automation can identify invoice discrepancies and help reduce your risk of falling victim to fraudulent payments. Find out how automated AP solutions protects businesses from losing money.
A digital invoice approval workflow streamlines the approvals process and lets you manage accurate approvals remotely. It also automates manual and repetitive tasks involved in the approval process, such as data entry and cross-referencing information.
Read about three key features of a digital invoice approval workflow that can benefit your business as it operates remotely.
A common misconception of Accounts Payable Automation is that automating data entry means you can reduce your head count in the AP department.
While data entry automation is a component of any successful AP implementation, the business outcomes and benefits go far beyond this.
Accounts payable processes are often characterised by manual data entry and inefficient workflows that can have a real and significant financial impact on a business. Do you know exactly how much traditional AP processing is costing your company? Whether it’s duplicate payments, late penalty fees or labour costs, AP Automation provides multiple opportunities for efficiency and savings.
Here’s some tips on what you should look for in an AP solution.
Small businesses need to manage cash flow carefully. Unfortunately, many are losing money every month due to inefficient invoice processing and manual accounts payable processes.
Find out how accounts payable automation software can provide the solution.
By Angelo Elias. With so many good accounts payable automation software products available, how do you find the right solution and the right partner for your business?
Here’s some things to consider when appraising different solutions and technology partners.
Upstream are excited to announce the immediate availability of our M-Files MYOB Connector.
With uploading of invoice data directly to MYOB from M-Files, Upstream can provide an Accounts Payable Automation Solution, encompassing automatic data extraction from invoices, electronic workflow approval on any device, and upload of invoice information to MYOB, including linking to jobs.
Find out more.
While many businesses think the journey to accounts payable automation is long and complex however it doesn’t have to be.
There are many ways to start and in a lot of cases doing it in bite size chunks can provide quicker returns.
By Nasir Khan Do you know what the biggest resource waster in accounts payable (AP) is? If you guessed manual handling and processing of invoices, you’d be correct. Without an AP automation solution, physical mail needs to be opened and re-directed, emails forwarded and/or printed, approvers followed up, purchase orders validated,