Monitoring your organization’s financial health as the business grows is a constant challenge, and doing it in the era of digitization and “work from anywhere” introduces a whole other layer of complexity. Paper-based methods of accounting don’t deliver the visibility you need into your financials, and email and Excel spreadsheets don’t really do the job either. You’ll get by with these methods for a while, but once your business gets to a certain size, you’ll need real-time insight into your financial health. That’s where automation is the key.

Your business is likely using automation in some degree already, but automation-based tools can fully transform accounts payable (AP) processes for the better. For a more detailed look at these challenges and how automation helps, download our new eBook: Your Guide to Making Spend Management More Efficient. In the eBook, we dive into:

The Three Main (and Most Common) AP Challenges

Without automation, AP teams are stuck with a few common problems:

  • The month-end crunch: Every AP department hopes to close the books at month’s end faster and with no mistakes. Paper, email, and spreadsheets prevent them from achieving this goal. Maybe they have to manually track down missing invoices, deal with discrepancies, grapple with complex invoice matching, or wait for approvals. No matter what the issue is—even if it’s out of their hands like a late invoice—manual methods draw out book-closing processes.
  • Slow, unreliable payments: In some industries, up to 90% of business payments still happen via check. While that number might be hard to believe for organizations that have digitized much of their payment structures, it has real effects on the speed at which AP works.
  • Managing cash flow: If AP is using inefficient, manual processes, it’s more than likely the books aren’t complete or accurate in a given moment. If you can’t see your cash position in real time, you don’t have a solid grasp on your financial health—and you don’t make decisions using the most recent data.

How Cloud-Based Automation from PaperTrl Solves These Challenges

Automation is the answer for any organization hoping to move away from time-consuming AP processes, but businesses that choose PaperTrl’s cloud-based solution get a unique combination of valuable tools.

  • Our OCR technology reads invoices from email or PDF with 99% accuracy—eliminating the need for manual data entry and backtracking to fix errors.
  • Business rule enforcement allows AP teams to handle transactions faster by programming for exceptions and alerting using an “if/then” workflow engine.
  • Modules in our cloud-based automation solution allow for customized configuration, immediate process improvement, and ultimately an optimized procure-to-pay process.
  • Both the AP team and leadership gain better visibility into financials with easy-to-use dashboards and clear, helpful reports.
  • Automatic payment submission not only eliminates the risks of manual check runs, it speeds up secure digital payments.
  • In PaperTrl’s Vendor Portal, your vendors receive purchase orders and submit invoices in a secure environment—streamlining vendor management.

Start Optimizing All Your AP Processes Today

If your business is planning to scale or grow at all, you’ll eventually find yourself in need of AP automation. As an Intuit QuickBooks Solution Provider, PaperTrl integrates financial data seamlessly with QuickBooks and serves as the expert catalyst for your AP process transformation. Download the eBook Your Guide to Making Spend Management More Efficient to learn more about AP automation.