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Satisfy Customers and Suppliers with Improved Accounts Payable Software
Your accounts payable (AP) department deals with a large number of internal and external customers. Within the company, AP works with purchasing and receiving to authenticate invoices and make payments. They also play a huge role in managing cash flow and can play a strategic role by supplying data and advice to other departments and the CFO. AP also works with groups outside the company. Accounts payable works with vendors and suppliers, as well as financial institutions your company uses to process payments.
Under a paper system, AP’s internal communication involves a high volume of inter-office emails and forms. They’ll also need to perform customer service tasks, like answering questions via phone and email from external vendors. With all of this to deal with, it’s easy for forms to get misplaced and for some invoices to slip under the radar, resulting in delays and wasting time for both the AP department and their customers.
When you update your system to use accounts payable automation software, many issues with customer service disappear. With automation, it’s much easier to involve internal customers in the AP process and to give vendors access to invoice processing information. These advantages quickly lead to more satisfied customers and a lighter workload for AP employees.
Vendor Portal
NextProcess’s AP Automation Software makes use of a vendor portal to grant your vendors and suppliers controlled access to the software. They can’t log in to the full system, but they can see specific information. This portal allows vendors to search the system for their invoices, check payment status, and submit missing invoices on their own schedule and with minimal hassle.
Not only does this save your vendors time and trouble, which is sure to brighten their days, but it also makes things easier for your AP department. Implementing an accounts payable software system that allows your vendors to help themselves reduces the number of calls and emails directed toward AP. This helps free up AP employees to focus on other matters.
Internal Access
Automatic AP software simplifies sharing invoice information within your company as well. With NextProcess software, there are no individual user licenses. You pay one fee no matter how many people use the software, so you never have to compromise about who can take advantage of the increased productivity afforded by AP automation.
You’ll also see even more benefits to accounts payable software if you integrate it with other software systems. NextProcess software, for example, integrates seamlessly with ERP systems. You can also use multiple NextProcess software modules to create an end-to-end financial processing solution. With all your financial processing software working together, employees using the software have a much easier time communicating and collaborating between departments.
Better Data Handling
In addition to improving software access, AP automation also makes it easier for people to access and use accounts payable data. When you purchase NextProcess software, you’re also getting permanent online data and image storage. These records are available 24/7. You can easily search, download, and analyze the records. With accurate, easy-to-access records your company’s department heads will have a much easier time generating reports and creating data-driven strategic plans.
In the AP department, all invoices that go through the system are automatically entered into your Online Document Repository. The system updates in real-time, so you’ll have immediate access even to the most recent documents. Automated digital document storage also makes audits much easier. In addition, you can scan records from before software implementation into the system if you want to have digital access to them as well.
Faster Processing
While increased visibility and access are important steps toward customer satisfaction, they don’t make that big of a difference unless you’re processing the invoices in a timely manner. AP automation software excels at this task. Incoming invoices can be automatically GL coded and routed for electronic approval through a system designed to reduce touch points and keep invoices moving.
Faster processing means you’ll be able to pay your vendors well before payment deadlines. This keeps them happy—no one likes waiting for payments—and it also works out well for your company. Not only do you avoid late payment fees, but you might also be able to negotiate early payment discounts. Procurement and accounts payable can work closely together to improve and maintain good supplier relationships.
Get Started Improving AP Today
It’s easy to gain the improvements that come with automating your company’s accounts payable process. The software-as-a-service (SaaS) model that NextProcess uses makes implementing new software in your company very simple. There’s no burden on your IT department, implementation happens quickly, and the software is easy for employees to learn how to use.
Business process automation saves your company time and money. It simplifies the whole process, both for those using the AP system and for those interacting with the AP department. It’s also something that you can customize to match your company’s exact needs. If this sounds good, contact us today to get started with AP software!
