Ever heard the term “retail therapy”? Shopping to improve one’s mood, give oneself a mental and emotional boost, improve one’s outlook. Shoppers swear by it.
So, how about some retail therapy for retailers?
Retailers do more shopping than just about anyone. It’s the lifeblood of the industry. Keeping stores and warehouses adequately stocked with the latest and greatest products from around the world is a fast-paced challenge, a satisfying one when done right.
But that’s the purchasing department. For accounts payable it can – and often is – a very different experience. Purchasing stock means the generation of hundreds, even thousands, of purchase orders and invoices. Those invoices must be paid on time every month to keep suppliers happy. And then there’s all the other work. The accounting department and finance departments want reports. Transactions need to be archived. And so on. It can become a real pressure cooker.
It doesn’t have to be. With the right AP automation solution your AP department can also experience the euphoria of a great find at a great price.
Fortune 500 companies have been relying on cutting edge AP automation for years, and in some cases the results have been dramatic. A prime example is the InvoiceWorks® solution from iPayables. InvoiceWorks® eliminates paper by providing an e-invoicing platform that’s both flexible and accessible. The result is faster turn-around time, virtual elimination of lost invoices and authorization lag, and near-seamless match-up of data.
InvoiceWorks® can be installed in short time and with surprisingly little interruption. With training, AP departments and their vendors learn the system quickly and comprehensively. Real-time access to data and status updates are available at both ends, 24/7, leading to fewer calls about payment status. It’s all done with a simple point and click.
As for cost, it should be recouped in short time with savings in labor hours as well as paper and mailing costs. One company, in fact, reported that its AP department was able to add over one hundred thousand dollars to the company’s bottom line just by taking advantage of dynamic discounting.
Aren’t you feeling better just thinking about it? But there’s more. What if your system communicated with other departments so effortlessly that you didn’t need to respond to data requests all day long? And what if it compiled data for accounting, and made audits simpler and far faster than ever?
This, and more, awaits you with electronic invoicing. So, look into a leading AP automation solution like InvoiceWorks® and start improving your outlook – and your company’s – today.