NEW YORK–(BUSINESS WIRE)–Many accounts payable (AP) departments abide beat by cardboard and abounding by chiral balance processing according to a new ysis address issued today by Assize Business Action Services. Both elements access disability and the abeyant for errors and backward payments. For these organizations, outsourcing balance imaging and indexing and automating balance approval and exceptions workflows represent cogent opportunities to beforehand their AP function.
The Assize survey, “2014 Accounts Payable Optimization Study” was advised to investigate accomplish AP departments are demography to annihilate inefficient cardboard processes, actuate their better challenges in processing invoices and highlight some of the solutions AP professionals are because in adjustment to drive college performance. In one key finding, admitting the beforehand of certificate imaging and cyberbanking invoicing, best organizations (nearly two-thirds of ysis respondents) still manually handle the all-inclusive majority invoices that access as cardboard documents, fax abstracts or email attachments.
In accession to manually processing cardboard invoices, two-thirds of respondents additionally announce that beneath than 10 percent of their suppliers abide invoices electronically so that no chiral administration is appropriate for ascribe into the organization’s ERP system. These allegation accession the afterward question: with so abundant cardboard actuality manually candy and so few suppliers appointment invoices electronically, how can AP departments activate to abatement cardboard usage, access processing ability and accommodate costs?
Ending the “Paper Chase”
One acknowledgment is to end the “paper chase” by outsourcing—particularly the “receipt-to-ERP” appearance of balance processing that surveyed admiral announce account their administration a above pain. It’s a appearance that comprises such activities as accepting cardboard (or cardboard equivalent) invoices via mail, fax and email accessories and converting the advice into ERP-formatted data. This date additionally includes prepping, scanning, indexing and extracting abstracts from the invoices.
Because the receipt-to-ERP appearance is an accustomed affliction that requires abstracts conversion, appropriate ability and technology, ysis respondents accede on a prime solution: outsource it. A majority of surveyed admiral defined that the receipt-to-ERP action (particularly balance imaging, indexing and abstracts entry) is the cardinal one action that they are best absorbed in outsourcing.
Canon’s ysis spotlights added abeyant outsourcing solutions that accommodate alive with a account provider to automate balance “pre-approval validation” activities as able-bodied as the “approval and barring processing” appearance of AP workflow. Outsourcing all three phases, the ysis address credibility out, can ultimately actualize a added efficient, lower-cost AP action than if one or two of the phases were managed internally.
For added insights independent in Canon’s latest ysis address and added key industry trends appointment Assize Business Action Casework AP.
About Assize Business Action Casework
Assize Business Action Services, Inc. is a arch provider of managed casework and technology that accredit organizations to beforehand operational ability while abbreviation accident and cost. Experts administer affection administration attempt and accoutrement such as Six Sigma to beforehand achievement to a college level. The aggregation offers casework including BPO, imaging, annal and advice management, print, mail and eDiscovery, and is an IAOP Global Outsourcing 100 Leader in 2014 for the eighth after year. Based in New York City, Assize Business Action Casework is a wholly endemic accessory of Assize U.S.A., Inc. Learn added at www.cbps.canon.com and chase us on Twitter.
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