Education
Remove costly & redundant manual processes, while introducing compliance, visibility and purchasing controls within your Accounts Payable area.
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Do your Budget Owners / Department Heads lack the transparency to manage purchasing, and have difficulty matching invoices to origin PO’s?
Automated matching and allocation to budget centres will reduce the time spent on accounts process, and increase their time spent educating!
Calculate your savingsDoes your team relate to these common frustrations?
No Visibility
Paper based processes inherently lack visibility as key data from the documents is not entered into systems until very late in the process. The ability track paper through the process also allows for a complete lack of compliance.
Upcoming commitments and obligations, along with the status of invoices can all contribute to an inability to correctly manage cashflow.
Access to Supporting Documents
When Department heads are managing the approval of spending, the lack of supporting documents takes valuable time away from the core focus of delivery a better education outcome.
This not only increases the cost of the process, but also reduces the ability to forecast and make informed decisions on where spending can be aimed at more important education costs.
Duplicated Effort
With businesses having multiple systems to manage processes, often duplicate data entry or work is required to manage this effectively. This creates longer cycle times within processes and duplicate work for staff, increasing time spent and overall process cost.
Compliance
Paper based processes create the ability for processes to be expedited, when processes are not followed. This is commonly due to the process being difficult and cumbersome. Ability to expedite processes means compliance cannot be enforced and business rules can be ignored.
Reclaim lost time with an Automation Solution
While finance processes all include intangible associated costs and risks, Key process analytics will allow for fact-based projections of existing and future cost comparisons. Data driven analysis of both your current process costs along with the reduced future to be process costs allow you to make informed decisions on your automation journey.
Paired with intangible benefits as increased visibility and clear audit trails, this will demonstrate where you will see the greatest value from automation.