Does this sound familiar, last month my business lost money because of invoicing processing errors. Let me start at the beginning. As part of a solution set for our customers we buy high-end printers and scanners from a distributor for resale. We add a modest 5% margin to the cost of the unit and when we are able to pay our invoice early our distributor gives us a 2% discount, giving us a little extra profitability on the deal.
Posts Tagged ‘A/P Automation’
I want to tell you a story, and how it relates to SharePoint workflow and why it is important to think about buying a turnkey solution or building a totally customized solution yourself.
One afternoon Bill is standing on his driveway admiring the beautiful day and down the street he noticed that his neighbor Carol had this gorgeous, sleek and shimmering new sports car sitting in her driveway. Bill’s eyes lit up and he had to go ask Carol about it!
We have all heard the phrase “we need to do more with less” less time, less resources, less complications. In today’s blog post we are going to look at an area of business operations where we can achieve this organizational goal of doing more with less. We are going to discuss simplifying invoice processing, why it matters and how to do it. Traditional invoice processing has always been a manual paper based process. The invoice would come in by postal mail, or by fax, which then would be printed out for processing and passed to an Accounts Payable processor who begins the first stages of reviewing the invoice for processing and payment
Written By: David Miller Tweet Accounts payable automation or AP automation is the term used to describe the ongoing effort of streamlining the business process and workflow of an accounts payable department. The process is straightforward, however, can become very… Read More