Accounts payable audits can seem overwhelming or a complete pain. They're often assumed to take up a substantial amount of time and resources as an auditor goes through the paperwork and tracks the necessary transactions.
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.
Using the right accounts payable procedures is an essential component to a business’ success. Take an honest look at your current practices and identify areas to target for improvement to increase your operational efficiency. A brief and general glance into the three-way paper invoice match system of accounting shows a logical, yet inefficient process.
It's hard to believe it's already 2020! As the new year begins, are you wondering what you might see in the coming year? How can you work towards improving your workplace? What kinds of new technologies will be available to you? How can you make your workplace more appealing to tech-savvy Millennials?
Who doesn’t want to impress the boss? Any opportunity to stand out as a unique snowflake, apart from the crowd, is one you should always seize – provided you aren’t negatively affecting others. The how of this, though, isn’t always so apparent. You can easily get dragged down by the daily grind and end up playing the eternal game of catchup.
The air is getting colder, the leaves are falling, and plants are covered in a thin layer of frost: the year is ending, and there's nothing to be done about it. For most people, this means the start of the holiday season and the beginning of a new year, but for those in finance and accounting, the transition from December to January means the struggle of year end close.
Worldwide, more and more accounting tasks are becoming automated. While this can reduce processing time and increase accuracy for your organization, it can also leave you vulnerable if you’re not careful in selecting processes that will ensure that your internal controls are maintained.
Regardless of the size of your organization or how you structure your accounts payable department (a team, a bookkeeper or an individual company owner), these two guiding principles for establishing successful accounts payable (AP) processes are universal:
Staying competitive in the age of digital transformation means doing more with less. Your organization may not have the available budget for new hires to cover business growth, or you may be dealing with a talent shortage in the areas that you need help with. The good news is that you can increase organizational productivity without increasing your headcount using the following methods.
So you’ve decided to make some changes in your office. You’ve invested in something called Enterprise Workflow Automation (which combines tools like Document Management Software and Robotic Process Automation), and you’ve got a team working to revamp your processes, making them better and automating tasks where possible.