The unmatched benefits of accounts payable automation
The Kofax TA Accounts payable automation services help in capturing and keeping a track of invoices from various sources like fax, email, scanners, paper and the Internet. Once captured, all the invoices can be validated and loaded into the SAP or ERP solution for the processing of invoice. So instead of having the need to deal with various stacks and sources, the accounts payable team shall have a consistent and automated flow of work that makes the task much easier while also optimising the cycle of payment.
Since the beginning of business, merchants and service providers have undergone the accounts receivable and accounts payable process. It is because all businesses required the exchange of money for goods, commodities and services rendered. After centuries passed away, trade and commerce and its accounting is still evolving. Today there are so many ways of making payments such as cash, credit cards, cheque, wire transfers, ApplePay, paypal – the list is practically endless. Anyone today can even receive payments directly on their tab or smartphones by using credit card readers that could be plugged into their headphone jacks.
From the perspective of accounts payable, invoices can also be accepted from various sources. For example, some vendors can fax their invoices, while others may opt to send them electronically or through postal services. Some may choose to pay at the time of delivery. The person in charge of keeping a record of accounts payable, shall have to keep stacks of paper and faxed invoices along with emails that contain links to the electronic invoices and the invoices that are supposed to be paid via EDI. To complicate the matter further, if the business enterprise has branch offices, then the invoices may first be distributed to the local sites before these are being forwarded to the main accounts receivable office. Hence, with so many varied options, it becomes impossible to standardise accounts receivable and accounts payable and this is exactly where the need for Kofax TA Accounts payable automation shines. More details at Xcellerate IT.
Using these services helps in capturing and keeping tracks of invoices from various sources like fax, email, scanners, paper and the Internet. Once captured, all the invoices could be validated and loaded into the SAP or ERP solution for the processing of invoice. So instead of having the need to deal with various stacks and sources, the accounts payable team shall have a consistent and automated flow of work that makes the task much easier while also optimising the cycle of payment.
Let us now discuss in brief the benefits a business organisation may get through Kofax TA Accounts payable automation:
Cost efficient: A business organisation can save a lump sum amount from the company’s budget every year when the team replaces the paper based routines with the environment friendly and efficient business process solutions of accounts payable automation.
Minimising the errors: Manual processes are prone to faults and errors, costing the business resources every time. However, Kofax TA Accounts payable automation can reduce and even eliminate redundant data entry, cutting down the reason of errors. And when all the information is digitally stored in a single place, data is easily accessible, and it becomes hassle free to clarify and communicate.
Accounts payable from RJS: A premier Kofax TA Accounts payable automation Australia based solution from RJS can improve capturing data and routing the documents properly to increase the efficacy of AP business process. A business enterprise can process invoices faster and make payments quicker.
Consistent progression: There was a time when employees had to toil harder to balance the ledger. But with the advanced technology, business process solutions can make an enterprise come out of the older era to the automated future of business transactions.