Why “Busy” Is Costing Your Business Money

January 01, 2018

When managing a business, especially in this day and age, it’s common for people to become bogged down with the amount of places to be, people to meet and paperwork to do. As a result, many businesses become disorganized and inefficient in the routine processes, especially in the accounts payable department, that need to be completed in order to keep it afloat. 

Here are three of the most common ways people are losing money and how we can help with our APFlow™ system:

  1. Forgetting to redeem rebate or special discount offers - Product vendors and software and technology providers often offer special pricing or rebate opportunities that are rarely taken advantage of.
    Our solution: Build automatic, sequential route rules, including linked checks, by invoice line items based on job, vendor, general ledger code, division, equipment or dollar amount so that electronic forms of your documents can be sent to the proper destination on time.
  2. Manually inputting and paying invoices - Having your accountants submit and settle invoices one by one slows down the efficiency of processes and increases the chances of human error.
    Our solution: Batch process invoices and support documents at the point of receipt and electronically export all A/P transactions to the accounts payable module for on-time payment processing.
  3. Losing track of important documents - Disorganization can wreak havoc on any business. The time it takes to sort through, locate or replace misplaced documents can cost you time and ultimately money. 
    Our solution: Instantly access your accounts payable information and documents, and allow annotators to attach notes to the documents so that you don’t forget any significant details.

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