Your essential guide to moving to easy automated

accounts payable

E-BOOK

www.primedoc.co.uk

Specialists in processing business critical documents

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Moving from a traditional accounts system to an automated system is part of a digitised shift in business that firms, both large and small, are taking on.

In the past large, paper-based, systems would involve many work hours and management just to keep on top of.

“57% of businesses admit that existing technology is struggling to keep up with the demands of digitisation

99%

99% processing errors eliminated

25%

Postal cost savings in excess of 25%

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First, look at your department. Do you think there are too many hours going into the scanning, filing and dealing with paperwork?

To put it simply, do you think that staff spend more than an hour a week on organising, filing and retrieving documents?

As a business, human error is an understandable part of work, invoices are misplaced, zeros can sometimes be missed off and issues can create a breakdown in trust.

Identification

Now there is a solution that can help you grow, take pressure off people and free up time to do other work.

“How many hours are your spending scanning, filing, retrieving and organising?

Have you spotted avoidable errors that cost your firm cash, or worse, on-going business?Do want to bring down the cost of paying your bills or sending your invoices? As your business grows the workload, and therefore cost of your back office, does as well.

Additional workload carries added risk, as well as the size of the team grows, with people needing to get up to speed quickly, or strain shows as the amount of work increases with a limited talent pool.

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Five reasons to automate your accounts payable systems

Repetitive tasks involving paper can take its toll on your staff. It’s a challenge to keep people engaged and the chances of human error creeps in.

More importantly an automated system ensures that you’re able to make sure your staff are able to focus on more important, higher value, tasks as they arise.

1. Automated Tasks

There is the disposal costs of bulk items of confidential documents when they are no longer needed. A digitised system removes all of this.

Compliance is a hugely important part any business and the security, storage and destruction of documents can be made hugely easier when carried out digitally.

2. Environmentally Friendly

Paper isn’t the most expensive element of a paper-based system. You’ve got files, printer ink, all the different forms of stationary that are required.

The increasing costs of postage and the amount of storage space that is needed is also an important element. There is also more chance of getting early payment discounts and avoiding late pay fines

3. Reduce Cost

Your business may have some corporate social responsibility requirements that need to be carried out and a paperless systems shows that you’re keen to remove some of the demands on the business.

Although you’re not in control of the businesses that send you paper in the post, or even via fax, you can reduce the amount of paper you need to deal with them.

4. Disposal Costs

An automated system puts your business in control of what is happening with your workflow.

You can see all tasks that are being completed and ensure that you can remind your staff of what needs to be done and when.

With secure login you can check-in whenever and wherever it is convenient to you. An audit trail right there at the touch of a button, ensuring that data is not lost again.

5. Control

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So you’re ready to make the move. What now.

Preparation So you’re ready to make the move. What now. Your provider will be able to guide you through the process and prepare you for the steps ahead. A business with ongoing relationships with big and small companies will be able to put you at ease and show you the task at hand, but you can also better understand your own systems. This is especially if you haven’t carried out an audit recently.

Project preparation is an important key to the move. Define the roles of people who will be involved in the project and align yourself with what the key outcomes should be. With clearly defined tasks everybody will be able to see how the project will fit together.

Set timescales and be realistic, again your supplier will be able to set these. It’s important, especially with a process that can impact on many different parts of the business and cash flow that the systems are not rushed by being overly-optimistic.

“Define your workflows and identify what the key outcomes should be

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After this is in place, your vendor then works with you to map out the full solution. They will work with you to ensure that the system is the right fit for your needs. They can help you set-out a standardisation process for incoming invoices. This will also reduce the changes in invoice receipt location, what format it is in, and the quality of the information.

Think about your current processes. What does the workflow look like Are there bottlenecks and missing element? Are there parts you’d like to change? Can you see efficiencies that can be implemented straight away?

You should communicate with staff about the changes that are being put in place. Explain the reasons why, prepare them for the changes that will be happening and the new processes that will be put in place. Bring them on the transformation journey

Next steps. Get set for success.

Implementation After sign-off of the plans, the software solution can be implemented. During this phase your provider will work with you to ensure that the software in in place and fits seamlessly with your current systems.

You’ll also receive documentation and, most importantly, user-training will take place. This first goal of any software training is to ensure that everybody is able to get up-to-speed at a level they are able to work as efficiently as before.

Then there’s the extra work to teach tricks and tips to make the most of the software and get them up-to-speed to make them as efficient as possible.

Done properly your staff will be comfortable with the change and you’re set for success.

As part of ensuring a smooth transition a pilot operation can take place using the system as you would but with a limited amount flowing through it. This means you’ll be able to monitor its effectiveness.

Once you’re happy ensure that all the stakeholders are on board with all the changes being implemented and any out-comes from the pilot phase.

Produce documents for staff members which explain the process and answer any questions so they can refresh their knowledge when they need to.

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Capture, Extract and Index

Store and Access

Process and Manage

A/P Invoice Automation

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Moving forward, assessing the outputs from the implementation, look at the level of people you now need for the department to maintain its function.

Can there be any reductions or redeployment? Also ensure that training is maintained and outputs are kept at the required standard.

You should not see this automation as a one-off action. As your business changes and grows you may need to tweak or change the programme.

It’s important to project manage and changes as they can impact on outputs.

A good relationship with your provider will be key to moving forward.

“As your business changes and grows you may need to tweak or change the programme

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Your digital future starts here...

Take control, talk to our team for more insight on how an automated solution could improve your processes.

Call: 0161 766 5544 | Email: info@primedoc.co.uk | Visit: www.primedoc.co.uk