7 Golden Rules for Accounts Payable Automation
The 7 Golden Rules for Accounts Payable Automation by Basware will help you create a framework for making the key decisions that will ultimately determine the success of your project.
Basware has published a very interesting white paper about Accounts Payable Automation and we would like to present it to you.
Eliminate time consuming, costly, and error-prone paper invoice processing through automation. The key to minimizing bottlenecks and maximizing success in Accounts Payable automation? Preparation, preparation, preparation.
By following some simple steps, you can ensure a pain-free transition to automation and achieve an end result that really delivers for your business.
The 7 Golden Rules for Accounts Payable Automation will help you create a framework for making the key decisions that will ultimately determine the success of your project:
- Agree on the scope - define the core areas and processes you want automation to cover.
- Analyze existing processes - analyze your current invoice handling and payment process, engage the key stakeholders, and assess their roles.
- Sweat the details - think carefully about how you will capture invoice data and the workflow for pre- and post-processing.
- Standardization is more important than centralization - be strategic in determining what needs to be centralized.
- Know your priorities - plan around the four key priority areas: control, visibility, efficiency, and agility.
- Map your priorities - understand what you have, what you want, and how to articulate your requirements to vendors.
- Be realistic - know what you have to work with and thoroughly analyze the available solutions to set accurate goals.