Accounts Payable Automation for Manufacturing
Imagine a well-oiled assembly line—every function is done correctly and as quickly as possible. In today’s world, that assembly line involves humans and machines working in tandem to get the job done. For AP, that means a fully electronic system of invoice processing, where every step is viewable, accessible, and managed electronically by accounts payable. Accounts payable automation for manufacturing, specifically, has yielded improved results for many companies.
The finest of assembly plants have efficient systems in place to optimize workflow. In the same way, the visibility and reporting abilities provided by enterprise-level accounts payable automation improve the workflow in AP. From the delivery of the invoice to the payment by the AP department, all data is assigned to an electronic file where it is stored and can later be compiled to create reports or meet requirements of an audit. The majority of the work is done through an automated system, working in perfect tandem with your accounts payable department.
Features for Manufacturing
Several components of enterprise-level AP Automation are ideal for manufacturing companies, such as:
- Multiple POs per Invoice Matching
- Complex Receipt Matching
- Capture Industry/Company Specific Coding Fields
With these kinds of features at AP’s disposal, manufacturing companies are able to develop best-in-class AP departments—turning accounts payable into a profit center, as opposed to a cost center.
World-Class Accounts Payable Automation for Manufacturing
Enterprise-level accounts payable automation for manufacturing reduces labor, errors, and turnaround time dramatically. Suppliers love it because it includes them in the process, and at no additional cost. Accounts payable loves it because stress levels go down, and other important tasks can be tended to. Other departments love it because it reduces workload and distraction. And your CEO will love it because you’ll save the company money.