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Top 20 Ways To Reduce Costs and Streamline The Accounts Payable Department

Is your business losing hold of travel expenses? Is your business spending more on travel than profit?  Then don’t worry. The best Invoice Management System is here to help you. The software is popularly known as BAZ. It is well developed to create an expense report, detect expense frauds, manage reimbursements and many more. For more info visit

1. Speed up the time it takes to invoice authorization.

Rather than by hand sending copies of bills to the authorizers, they can be e-mailed, the image viewed online and sanctioned or rejected as needed. The system will monitor as well as escalate all invoices to make sure they are authorized on time.

2. Reduce data entry costs.

Using OCR (Optical Personality Recognition) technology the information could be automatically read from your debts. Integration with your financial software or ERP ensures you don't need to for duplicate data access.

3. Free up storage space and eliminate unnecessary storage costs.

Invoice processing solutions will certainly store invoices in a lawfully acceptable format so papers copies can be discarded. This particular eliminates other storage charges and frees up an area previously taken up with submitting cabinets.

4. Eliminate the need to call back a supplier when dealing with a query.

With immediate retrieval you can see at a glance exactly what stage every invoice reaches, this enables the AP group to tackle supplier inquiries without the added cost of the callback.

5. Reduce the risky of losing invoices.

The authorizers view copies of the bill image online, this means accounts will not get lost within the post or misplaced upon someone's desk.

6. Make coding more efficient and user-friendly

Invoice processing solutions enable both the AP department and also the procurers to code on the internet, from the image of the monthly bill. Coding is made easier along with intelligent defaults and affirmation.

7. Enforces authorization rules.

Invoice processing solutions additionally ensure that authorization rules tend to be exactly defined and followed. Multi-level authorization can also be dealt with where invoices need to be sanctioned by more than one person.

8. Take control of your AP with comprehensive management information.

Management advises about the performance of the AP division, your suppliers, and authorizers can be easily produced. The info gained can be used to produce KPI information and help monitor focuses on.

9. Help monitor budget spending.

Procurers can evaluate expenditure against specific price range codes or departments, without resorting to a license to access the economic climate.

10. Resolve order discrepancies more efficiently.

Invoice management may automate the whole order complementing the discrepancy process seamlessly. The actual AP team can add probably reasons why they believe the account is not matching before delivering to the authorizer to be accepted. This allows for a quicker quality for order discrepancies.

11. Help negotiate higher supplier discounts.

Invoice management allows you to process invoices within dealer deadlines, making a stronger situation when negotiating higher discount rates.

12. Speed up the 30 days end and year finish accruals process.

Speed up the actual accrual process by eliminating the finding invoices and code journals. All significant financial obligations can be accounted for rapidly and efficiently.

13. Match up invoices to purchase orders along with receipts.

Matching is done on-line at the time of data entry, if this fails, the AP crew are alerted immediately to solve any errors, avoiding expensive delays and re-processing.

14. Help comply with the later payment act (1998).

Utilizing invoice management helps ensure your own late payment costs usually do not add up and that the act is actually complied with.

15. Increases the receipting process.

That result in no goods received notice, the invoice can be submitted to the procurer to demand they receipt the goods. This specific avoids manual chasing in addition to keeping records of bills to chase.

16. Manage invoices that are delivered through email. Invoice processing options allows you to capture emails, instantly index them, retrieve immediately online and include them inside the workflow processes. This records the emails that you need without having clogging up your systems.

17. Manage your supplier collection proactively.

Detailed supplier info, including those suppliers which send duplicate invoices or even whose invoices often get declined, is provided, helping you to handle your supplier portfolio.

18. Supplier letters can be immediately produced.

Example letters may be managed with the relevant expenses data to avoid duplication associated with work.

19. Reduce the number of queries from suppliers.

The supplier portal can be used to permit suppliers to view the position of their invoices online. This kind of eliminates the need for suppliers to make contact with the AP department.

20. Handle invoices for multi-companies.

If you have more than one company, even if they may be using different ERP techniques, invoice automation systems can easily process them all in one remedy.

Is your business losing hold of travel expenses? Then don’t worry. The software is popularly known as BAZ. The best Purchase To Pay Software is here to help you. Is your business spending more on travel than profit?  It is well developed to create an expense report, detect expense frauds, manage reimbursements and many more. For more info visit

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