AP AUTOMATION

Process Invoices, Approve Invoices & Analyze AP Data – From Your Couch

OneDataSource President and Founder Bruce Belvin
Bruce Belvin, OneDataSource Founder & President

May 9, 2021

If you were alive in the early 2000s, then you should remember the introduction of the Staples’ “Easy Button.” Featured in a series of ad campaigns, the big, bright Staples-red button magically resolved office-related issues with the simple press of a button. It was so popular that the company started selling a desk toy replica.

Unfortunately, the real-life version did not possess any magical qualities; however, it did likely inspire your coworker Steve to walk around endlessly spouting the “that was easy” slogan.

The mystical Easy Button exists in an imagined world. Though, the good news is we live in a reality where technology can alleviate the most complicated problems and simplify complex processes. The even better news is that it extends to the accounts payable function.

Technology, specifically cloud-based AP automation software, helps centralize the function and give AP teams all the flexibility you could ever need.

In this blog, we’ll discuss the benefits to people who are living AP day-to-day.

Dog Process Invoices From Couch

Hank helps his Mom process invoices using onePAY.

Hank has been impressed by how easy the software is to use.

Interested in onePAY? Book a demo.

 

So Easy, Your Dog Can Process Invoices

Your lovable, furry friend can open the cooler and fetch you a cold beverage. Now, they can even process invoices! Just kidding… (Though, they have been sitting by your side throughout the entirety of quarantine. They had to have picked up something about what you do, right?!)

All joking aside, cloud-based AP automation is all about ease. Those tedious, manual AP tasks like manual routing, data entry, and physically archiving and filing are a thing of the past. The entire workflow from processing to payments becomes streamlined and effective. Here’s what that looks like.

Operating with a lean team? With intelligent AP automation, invoice data is smartly mapped and populated based on a business’ specifications. That means reduced manual work and ease in processing.

Someone out sick for the day? With invoices digitized in a central repository, any team member can step in to help keep everything moving. Plus, invoices can still be processed without going to a physical location.

Let’s explore that aspect a bit further.

Approve Invoices Anywhere in the World, 24/7

The future is hard to predict. We all experienced that unpredictability recently, requiring us to shutter in the relative safety of our homes. Yet, business didn’t stop. Rather, businesses had to figure out ways for their teams to operate remotely.

Now, we are living in a new normal. There’s been a profound change to how we conduct business that will endure into the future. It’s one where businesses recognize that work doesn’t always have to look like the traditional, in-person “nine to five” like it has in the past. And workers want the flexibility to perform their job function at any time and from anywhere in the world.

AP teams should be able to partake in that flexibility as well, and automated invoice processing makes that possible. With intelligent AP automation software, such as onePAY, you or your authorized approvers can provide invoice approval anytime, anywhere. Additionally, invoices can be approved by machine via thresholds or by person no matter where that person is in the world.

Technology, specifically cloud-based AP automation software, helps centralize the function and give AP teams all the flexibility you could ever need.

Perform Accounts Payable Data Analysis Where You Prefer

Here’s a scenario that may hit close to home. You are sitting at your desk when you get a call from your manager. They need help with a report that pulls together various AP activity – and, oh by the way, they need it by the end of the day.

In a legacy process, that may be next to impossible to deliver on time and with all the necessary information. Data is in silos making it time-consuming to extract. Never mind the fact that you may not be acting on the latest data. And surely, the biggest obstacle is physical location.

In our remote world, manual archiving and filing is a major hindrance to accessing, gathering, and gaining any type of insight from your information.

You deserve better. You deserve visibility into your data that can be accessed and analyzed anywhere, 24/7. AP automation software can deliver that visibility. Electronic storage in a central repository allows you to access and act on real-time data. With the added benefit of system integrations, your data can get out of silos and into the hands of the people who need it.

There are no more hidden or missing pieces. There is no longer a reliance on physical location or tribal knowledge. You can move the (business) ball forward at any time and from anywhere. That’s modern accounts payable.

Wonder where your AP operation stacks up? Examine the maturity of your AP operation and explore ways to improve your back office – and business – in our evaluation guide, Accounts Payable Health Check.

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Accounts Payable Health Check
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Accounts Payable Health Check

In this 20-question evaluation guide, you’ll examine the maturity of your accounts payable operation and explore ways to improve your back office – and business.

Wonder where your AP operation stacks up?