Take control of your accounts payable processes

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1 [Content Services from KYOCERA] Take control of your accounts payable processes Business like clockwork True efficiency in motion

2 Take control of your accounts payable processes Are you keeping on top of your accounts payable department processes? Do you feel as though forecasting your cashfl ow is partly guesswork? Improving the efficiency of your processes through integrating content services is the fi rst step towards maintaining and growing a successful organisation, while saving time and money on staff and their dedicated job processes. Every day, organisations are losing valuable time and money on invoice processes, especially those of which require staff members involvement. When you consider how much their time is worth to your business in other areas, do you think there s a better way of approaching these processes? The complexity of your current back office processes could be costing valuable time, impacting staff morale and therefore increasing inefficiencies. Consequently, your accounts payable team could be costing you far more than you d expect. Everyday, organisation s are losing valuable time and money on accounts payable invoice processing

3 Real-time visibility gives you power Implementing real-time visibility is your first step towards lowering costs, time and the number of staff it takes to manage and optimise your accounts payable processes. Having instant access to more timely data and information allows you to meet payment incentives, saves you time spent dealing with suppliers and creates a better foundation on which to develop professional relationships. Furthermore, you will avoid suppliers refusing to supply products until you pay their invoices. If you like the idea of streamlined processes, improved information flows and accurate, highly applicable insights that will positively impact your organisations, read on to discover what else our content services solutions and real-time visibility can do for you. Accurate and timely settlement of invoices improves supplier relationships and increases the efficiency of your supply chain

4 Accounts payable has never looked this good Don t settle for average processes As is the case with most business processes, accounts payable is a necessity derived from a fundamental need. This means that you cannot afford to ignore, nor give less, to your accounts payable department. Minimal investments into your accounts payable department reduces morale and is likely to cause inefficiencies. There is a reason that the majority of business processes are becoming digitised and automated. Having access to your workflow from anywhere, at any time, is hugely beneficial to business productivity and the best way to keep momentum up. Taking control of your accounts payable processes can: Maximise workfl ow efficiency Heavily reduce processing times Save money on unnecessary printing Give you access to current and highly accurate fi nancial reports Minimise errors through automated processes Automated Content Services, the control you need If you re getting less out of a process that you re dedicating a lot of time to, something is wrong. Unfortunately, we live in a world where you cannot take back wasted time, so this level of inefficiency can be bad news without a streamlined process, where processing invoices can take days to complete, organisations risk losing out on vital early payment discounts or may incur late payment penalties. Without an accurate view of the organisation s finances, efficiency can be tricky to accomplish. Organisations that spend hours per week dealing with manual documentation are falling far behind those who have converted to digital

5 Eliminate risk Digitising and automating your accounts payable processes also eliminates the risk of human error - humans regularly misclassify a shocking 1 in 20 documents. By removing the risk and replacing it with consistently fast and accurate processing, your organisation stands to save time, money and that all-important reputation. Paying suppliers is considered a necessary evil but if you can do it as smoothly and cheaply as possible it just becomes another business process. Out with the old, in with the digital Combining both digital and manual processing is costing your business time and money, even if you think keeping paper copies is better for security or reference. However, when you consider the money spent on Spend time more efficiently elsewhere in your operation printing unnecessarily and your employee s time spent searching through copious amounts of paper copies, the efficiency just isn t what it could be, should you decide to go digital. To operate at maximum efficiency, keeping all of your important documents in one place can save valuable time - time which could be better spent elsewhere in the business. 1 in20 DOCUMENTS are regularly mis-classifi ed by humans

6 Automation will make your business shine Converting speed to revenue Digital automation of back office processes offers you more than just a well organised workflow. It reduces human error, removes the need to print digital invoices, offers you more visibility into payment schedules and helps to manage cashflow. And perhaps most importantly, it provides much quicker identification and routing of invoices. Here s where automation really begins to shine. Your automated accounts payable system will automatically reduce late and duplicate invoices, as well as recognise invoices from suppliers that offer discounts, and then route them to the relevant staff for processing as quickly as possible. Money saved in an instant. Automation provides access to real-time information exactly when you need it. This means your accounts department staff can focus more of their time and attention on the tasks that are costing your business money. The process cost of automating accounts payable can also be improved as the process becomes cost neutral. Automation provides access to real-time information exactly when you need it

7 Benefits of automation Removing manual accounts payable processes in order to reduce unnecessary costs and increase business efficiencies is the least you can expect automated processing. The scale of the benefits that automated processes can bring to an organisation is huge. Organisations that have already implemented accounts payable automation show an average processing time of 4 hours - down from a massive 9 days when using a manual system. This approach can solve all kinds of financial frustrations, freeing up time to allow you to be more proactive using advanced reporting. You might be thinking that the amount of time it takes to install and implement is not worth the time or effort; but being rid of an ongoing problem for good, whilst saving time and money, will yield far better financial results. Reduce processing time from 9 DAYS to 4 HOURS

8 Why is automation the answer? Making changes to long-standing aspects of your operations may seem like the last thing you want to do if you re under fi nancial pressure. However, plenty of organisations have made the leap to automated accounts payable processing due to the highly measurable financial benefits it holds. It s becoming an increasingly strategic and operational necessity, and the benefits are clear. Reduced time processing, fewer errors and far more efficient processes are to name but a few. The financial benefits are also clear - paying invoices that qualify for early payment discounts will deliver significant annual returns for you. Automate now and take control Trust our team to tailor an automated accounts payable solution suited to your budget and your operation. You ll reap the benefits in no time. Contact us today to take control tel: visit: KYOCERADocumentSolutionsUK