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Selecting an AP Solution: 3 Steps to Automation Elation

    April 3, 2018 Leave a comment AP Automation, Accounts Payable, document management software, invoice approval, accounts payable automation, digital transformation, reduce ap processing cost, ocr, automate invoice approval, content management software, ap workflow ICM Admin

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    Business leaders frequently seek new efficiencies and better automation, and AP Automation is just one example. While all projects start with the best intentions, not all implementations conclude successfully with the automation or time savings that were promised. You can increase your chances of a successful AP solution implementation by doing 3 things.

    Choose the Right Solution

    An AP solution with all the bells and whistles sounds good, but it’s no guarantee you’ll achieve your intended results. Unfortunately, too many companies reach the end of their implementation only to find they don’t have the automation they intended. The right AP solution should be based on accounting best practices and streamline your processes.

    Out of the box, look for the ability to:

    • Simplify and standardize the invoice approval process
    • Monitor invoice approval and outstanding liability
    • Eliminate late and duplicate payments so you can take better advantage of discounts

    Find a Customizable Solution

    Do you have policies and user roles that are unique to your organization and need to be maintained post implementation? Not all AP solutions can be customized to fit your organization’s specialized requirements.

    The right AP solution is built on highly configurable architecture. Look for a solution that easily allows you to configure/reconfigure at minimum:

    • Users’ roles including Admin, Indexer, Approver, AP Specialist and Finance Reviewer
    • Data validations such as required fields, GL segment or active vendors
    • Workflow Routing rules unique to your organization

    Trust an Experienced Implementation Partner

    The ideal implementation partner will use their deep experience to anticipate your project’s needs, not just react to them. Your partner should have accounting and product knowledge.

    Look for these traits in your AP automation partner:

    • A deep AP processing knowledge based on best practices
    • Real-world expertise on the most comprehensive solution
    • Long-term experience in complex AP solution implementations

    Read our article, Selecting an AP Solution: 3 Steps to Automation Elation to learn more.

     

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    To ensure a successful AP automation implementation, rely on the experts at ICM. With more than 100 years of collective experience, we can easily help you evaluate your current AP process, share our tribal knowledge and implement an AP automation solution that's the right fit for your business.

    Contact the business automation experts at ICM today.

    AP Automation, Accounts Payable, document management software, invoice approval, accounts payable automation, digital transformation, reduce ap processing cost, ocr, automate invoice approval, content management software, ap workflow

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