3 Signs it’s Time to Look at AP Automation
3 Signs It’s Time for AP Automation
What are the signs you need AP Invoice Automation? Here are three things you don’t want to ignore.
How can I reduce data entry time?
How can I reduce errors associated with AP?
3 Signs You Need AP Automation
- Too Much Time & Errors on Data Entry
Imagine spending 10+ minutes gathering, entering, printing, matching, and filing 1 invoice. Now multiply that out over the day of a mountain of invoices on your desk. This could easily consume many hours or days. Now picture a robot that reads each invoice, populates the data for you, matches it up to the corresponding PO and/or Receipt, and posts it to your ledger. Done. Picture the time savings your team could have on focusing on strategic tasks and income-producing activities. Now their role is even more important to the business and gives them an opportunity to grow into new more engaging and valuable tasks. You can process many Invoices with as little as one click: many with little to no human intervention. With the Auto-Post feature on, the Robot will match LIVE data in real-time and post all validated Invoices for you, while you focus on strategic tasks & business opportunities. For accounting teams to improve their time management, and decrease data errors, automation is key.
- Decentralized Data
3-way matching sounds fancy (and it kinda is!) but the reason it’s so critical is that it is just fundamental good accounting practice. But it normally takes time. The DASH AP Robot will 3-way match the documents needed to verify a valid payment (PO/Invoice/Receipt). Automation is achieved through access to centralized systems like your ERP system data. All the information is in one place to match up and get processed faster. Relying on a paper process is not only time-consuming and an extra cost, but the individual pieces of data are also scattered amongst the business teams and can draw out the payment process even further. Plugging your process into your centralized data will enable automation and ensure the correct people have faster access to the high-quality information they need to do their jobs more efficiently.
- Inadequate Growth Model
Relying on a paper system for invoice processing can slow your process down dramatically. This is especially true if you are geographically spread out. As your business develops & scales for growth this year, these processes and resources are tightly pinched. A scalable solution that is automated can handle a higher volume of work in less time. By reducing the total invoice processing time (the Robot uses AI to read data for you) and reducing errors (it enters all the data for you), your business can grow 10%, 20%, and 30%+ this year and keep up with ease. More flexibility to expand, with no additional staff needed.
It’s Time to Implement an Automated AP Solution That Will Help You Grow
If your team is spending too much time entering data, and validating invoices, and your processes are not scalable for growth, you can be confident that it’s time to implement an AI-driven automation tool, like DASH AP Robot™. DASH provides the advanced features and functionality you need to create a streamlined, efficient business that seamlessly connects to vital ERP applications at an affordable price.
With the DASH AP Robot:
- Turn electronic invoices into actionable data for your review.
- Process multiple invoices with a click of a button, with little to no human intervention.
- Ditch data entry. Read and extract data from almost any Invoice.
- Automatically posts valid, matched invoices to your ERP without the need to touch each invoice (auto-post option).
- Full, real-time 3-way matching across your Invoice, Receipt, and PO.
- Highlights exceptions & errors to quickly focus on correction with minimal effort.
- Identification of duplicate invoices, mismatch notifications, and other fraud prevention functionality.
- Scalable accounting tool that can handle an unlimited number of Invoices per day.
Says CEO Jim Van Hecke, “This is a simple, yet practical way to automate a traditionally labor-intensive process.”
To learn more about why businesses need AP Automation, contact our team of experts today. Download our complimentary Ultimate AP Automation Guide to learn more details about moving from manual to automated.
About the Author:
Stephanie is the marketing guru at DASH. For over 20 years, DASH has been authoring, delivering, and supporting DASH DDX™ and DASH AP Robot™, its ERP-integrated software to small and mid-sized manufacturing and distribution companies throughout the USA and beyond.
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