In today’s global, fast-paced economy, productivity is critical to business success. One major contributor to productivity, of course, is technology. By automating administrative tasks, your employees can accomplish more by working faster, and also importantly, be free to work on more strategic activities that add greater value to the business.
As an example, through e-invoicing, the manual tasks of preparing, sending and receiving invoices can now be conducted automatically. While it may have taken a week or longer for an invoice to be sent by mail and then received, now with e-invoicing it can be sent and received almost instantaneously.
The productivity gains can be felt by Accounts Payable and Accounts Receivable departments alike. It not only speeds up the entire invoice sending/receipt process but it also provides visibility into the status of invoices, so no one is wasting time following up on them.
Along with the increased speed of processing an invoice, organizations can expedite payments to suppliers, enabling Receivables departments to increase cash flow, re-invest in their businesses and grow.
All in all, enhanced productivity is a gift that keeps on giving. By putting the right automated tools in place, you can help further your productivity, improve relationships with your partners and streamline your efforts. You’ll work smarter and better and save money as well.
Bob Cohen is Vice President, North America for Basware, a leading provider of networked purchase-to-pay solutions, e-invoicing and financing services that enable organizations around the world to grow their businesses and unlock value across their operations. For more information, contact [email protected], or call 203-487-7900.
Why Artificial Intelligence and Robotic Process Automation in Accounts Receivable are Here to Stay – Part 1