When you think about accounting process pains, a few headache-inducing doozies immediately come to mind. Among these pains are inefficient software, as well as closing out accounts payable at the end of the month. Both catalyze a number of issues and related problems that result in delayed payments, the infamous paper shuffle, and inevitably, human error.
Looking for ways for your organization to increase productivity and trim budgets? You’ve come to the right place.
DocuPhase’s “Business Process Automation” blog will provide valuable insight into how your company can benefit from implementing document management and workflow automation into existing processes.
When it comes to document management, many companies just “go with the flow,” even if there are other, better options out there. The main resistance comes from the worry of implementing a new system – that it will drain resources and time, and affect efficiency of the team.
One of the most common ways that companies get bogged down by their own weight is through poor accounting and financial management. In a survey conducted by Business-Software.com in May of 2013, nearly 200 finance executives in the U.S. were asked a series of questions to better understand the current state of finance departments around the country.
Manual invoice processing has its disadvantages. It’s time consuming, unclear, and hard to control. The number of invoices processed per employee is extremely low due to the hands-on tasks, and you’re in the dark as to where invoices are in the process. But still, an overwhelming number of companies suffer through traditional invoice processing procedures.
There's a big scary word in the accounting world that usually results in allocating resources and lost time - audit.