In a world that’s quickly moving to the digital paperless era, having the ability to streamline your operations by capturing invoices from anywhere is essential to staying competitive. More and more companies are using OCR services to read invoices, extract relevant data and reduce the risk of human error.
now offers a fully integrated solution through Lexmark to do just that. The antiquated process of keeping track of Accounts Payable using a spreadsheet can greatly strangle your Cash flow in many ways.
Here are 3 of the biggest challenges that strangle cash flow:
- No visibility into your company’s spend- How is a company supposed to accurately mange and forecast cash flow if they’re blindly paying bills as they come.
- Inability to take advantage of vendor discounts by paying bills earlier.
- Working Capital. Its simple - the more people involved in a process, the more that process costs your organization.
So, how do you combat the 3 biggest challenges - Boost transparency and increase cash flow using AP Automation?
- Increase visibility into your company’s spend with . How? You have full visibility and control over every invoice that comes in either by fax, email, or paper. As the invoice comes into Dynamics, it is immediately routed to the correct person for approval and can easily be controlled and managed.
- Leverage vendor discounts – Some company’s invoices offer a discount when the invoice is paid early. With Microsoft Dynamics, you’re able to see, in real time, the discounts and the deadlines by which they need to be paid to get that discount.
- Increase working capital by having the ability to extract the relevant data directly from an invoice and upload it into your ERP system, which greatly reduces the amount of hours to process accounts payable. Having the ability to electronically view, and extract data into your ERP also reduces the risk of human error.
Increase cash flow by automating your AP process. Position yourself for long term viability and improved cash flow through visibility of payment movements in real time.
Please contact for any further discussion on automating your process or taking full advantage of Dynamics Technologies.
by Calsoft Systems
