Manufacturers Can Profit from a Retooled AP Department
In the modern global economy, it’s no surprise that manufacturers are looking for an edge over the competition. Staying competitive means containing costs with streamlined production processes for aggressive pricing and better response to demand. All without impacting product quality.
But it doesn’t have to end at the production line. How things are done in the office has a direct and substantial impact on a company’s bottom line. This is especially true for the accounts payable department, where processing thousands of monthly invoices from suppliers can be a nightmare. Remember that famous “I Love Lucy” episode where Lucy couldn’t keep up with the chocolates going by on the conveyor belt? Every month, AP departments do the same jump and jive, chasing down approvals and lost invoices, trying to match up data, and inevitably fielding calls from vendors looking for payment status.
You don’t need to dance this dance! Just as important, you don’t have to put your vendors through their own aggravation. And you really do want to keep those vendors happy. In no other business segment are suppliers more vital to a company’s strength than to the manufacturing industry.
The right electronic invoicing solution can save your AP department a great deal of time, aggravation and money. Case in point: Fortune 500 clients have been switching to the InvoiceWorks® solution from iPayables for close to twenty years, and the results have been dramatic. Using InvoiceWorks® flexible and user-friendly program, their AP departments have replaced paper invoicing and clunky computer spreadsheets with a simple point-and-click interface that’s fast, responsive and available 24/7.
An account can be set up on InvoiceWorks® in a short time, and with surprisingly little interruption. Comprehensive training ensures that your AP department and vendors learn the system quickly and comprehensively. As for up-front cost, InvoiceWorks® is one of the most competitive solutions on the market. And the savings from less mailing materials and fewer labor hours will add up quickly, as will dynamic discounts generated by faster turnaround time.
So, think about streamlining more than just your production line. Add to your company’s competitive edge by retooling your AP department with an industry-leading AP automation solution.