Overcoming Bottlenecks in Your AP Process

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Does this scenario sound familiar?  Vendor calls Diana in AP inquiring about payment for an invoice which is now 30 days past due.  Diana knows nothing about it.  She starts the process of trying to track it down.  She calls Susie in Marketing to see if she has it or has seen it.  Susie says ‘Yes’ but then I passed it to either Bob or Derek but couldn’t remember which one.  Diana then calls Bob and Derek.  Unfortunately, Bob is out of the office on business travel and Derek hasn’t seen it.  Frustrated because of the time that has been spent, Diana is able to call the Vendor back and let them know that they need to resend it.

This example is a common scenario which drives up the cost of processing invoices.  According to the IAPP, the average cost of processing an AP Invoice is between $20-$60 for manual based processes.

“The secret is to gang up on the problem, rather than each other.” – Thomas Stallkamp 

By replacing your manual paper process with PaperSave’s Electronic Workflow, your company can take advantage of creating an electronic path for documents to follow and business rules that govern decision around the direction documents travel.  The Accounts Payable team can then electronically monitor one source document through the approval process.  Automated alerts can prevent bottlenecks.  Approvers can approve documents from mobile devices or their desktop.  The full audit trail shows who touched it, the action taken (approved, moved, rejected) and when it was taken.  No more blaming Susie that she didn’t get the documents to the correct approver.  No more blaming Bob or Derek that the document sat on their desk because they were out of the office on business travel.  These problems were ganged up on and tackled by PaperSave.

Let’s explore a similar situation documented in a recently released case study for World Triathlon Corporation also known as IronMan.  They needed PaperSave to solve its workflow issues across their worldwide offices.  “Somebody in Germany would receive an invoice in the mail, or email, print it out, write the General Ledger codes on it, have somebody sign it saying it was approved, scan it and send it to an email in Tampa where they would print it out again,” explains Mark Fox, project manager.  In Tampa, it would take a full day to process only 20-30 invoices, some of which were scribbled with handwritten notes in languages that only the originating countries could interpret!

PaperSave captures the invoice.  The user codes the invoice within PaperSave while validating the coding.  PaperSave’s Auto-Create module automatically creates the transactions within a Dynamics GP batch. The result reduced the costs to process an invoice from $30-$40 for each transaction to between $2-$3.  The productivity of a single staff person has gone from 20-30 invoices a day to 250 to 300-plus invoices a day per staff member! 

If these stories sound familiar, give PaperSave a call at 877-727-3799 to learn more about how to streamline your approval process and reduce your costs or see PaperSave in action by registering for a LIVE webcast.  http://www.papersavepro.com/webcast/

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