What is accounts payable (AP) document management?
AP document management lays the groundwork for accurate financial auditing and reporting. Here's what a paperless, compliance-focused AP process looks like.
Accounts payable (AP) departments face a weekly, if not daily, onslaught of invoices and other documents pouring in from various locations and in various formats. Capturing and organizing this mountain of data is a constant challenge, but many of the current processes are inefficient and error-prone.
How accounts payable automation software can help your business
Workflow automation software provides a quick and easy way to organize your files and file-related processes. When applied to AP departments, this software is a key component of keeping your AP documents visible, organized and easily accessible.
AP document management software can help you:
- Streamline supplier payment processes
- Provide an end-to-end system for payee on-boarding, tax form collection, invoice collection and approvals, payment method and currency selection, and more
- Streamline communication and coordination between all relevant employees and vendors
Add to your ROI with AP automation
An Ardent Partners study found that best-in-class organizations spend 70% less on invoice processing and need a small fraction of the typical time it takes to process an invoice. Explore the top benefits of AP automation and learn how Hyland can help you produce a significant ROI.
How Hyland can help you with your accounts payable document management
No matter how you receive invoices — email, mail, electronic data interchange (EDI), etc. — the OnBase accounts payable automation solution captures, organizes and delivers those documents, along with supporting content, to the appropriate individuals for review, coding and approval.
OnBase AP document management software allows you to:
- Retrieve invoices, goods receipts, vendor contracts and more directly from familiar ERP applications
- Review and approve invoices directly from Microsoft Outlook or mobile devices (such as iPad, iPhone, Windows or Android devices)
- Balance workload distribution with visibility into the real-time status of invoice processing
Is it time to transform your AP department from a cost center to a profit center? Hyland can help.
