Accounts payable is one of the last remaining business processes that still relies heavily on paper...namely those still ubiquitous paper checks. The tasks of dealing with them—from printing to getting approvals to matching up with PO’s to mailing out—it’s all pretty labor intensive and time consuming.
And when accounts payable operations have hiccups, you risk important relationships with vendors and your entire AP team is forced to transform into forensic accountants to fix the damage.
Luckily, there's a much better way!
The Cloud Helps You Become Better at AP...Which Is Better For You
But this is all avoidable! Your accounts payable workflow is more vulnerable to interruption than any other business process. Mistakes happen because of an overreliance on paper—at a time when there are better options. There’s really no excuse for it.
If you’re still working with paper, your AP team hasn’t had access to the information they’ve needed to administer accounts payable during the Covid quarantine. As such, many companies have been forced to reach out to their suppliers to arrange alternative means to make payments...and when you’re talking about a large customer list, that makes for a lot of work! Organizations have also had to arrange for backup financial data storage while they’re working from home...
Imaging Office Systems offers solutions companies need to move beyond these problems. We have the experience you can count on to comprehensively dissect AP process inefficiencies and replace them with cloud-based AP systems that are optimized for your workflows and easy to manage from anywhere!
Not only will AP in the cloud improve operational efficiency, the encryption technologies employed in these systems are far more advanced and reliable than email security. By implementing cloud AP, you really do demonstrate a higher degree of trustworthiness to your potential customers...and you’ll be in better position to attract bigger customers!
No one knows what’s going to happen next. Will the “new normal” be compatible with paper at all? Hard to say, but it’s also hard to argue with the momentum of technological change—especially when it makes so much practical sense. Companies that have taken advantage of AP cloud and automation technologies have had a much easier time weathering the effects of the Covid-19 crisis.
Implementing cloud-based AP really is one of the most important—and potentially rewarding—aspects of elevating your business processes to the cloud. The benefits of added security and improved support for suppliers should make adoption an easy decision.