If you work in accounts payable, more commonly known as AP, or if you work closely with those in AP, you know just how complicated and time-consuming dealing with regular tasks can be. For things that are done quarterly or annually, the amount of time it requires to complete a task can be several weeks. Anything that can be done to streamline the processes is always welcome. Ironically, document management for AP is one of the best ways to streamline a process that creates a significant amount of paperwork.
Through better management of the plethora of documentation that you generate, you can actual make it a lot easier to repeat the processes that are so tedious and time consuming. If you have been considering document management for AP, here are the benefits you stand to gain from going ahead and implementing a document solution.
Electronic Solutions for Easier Tracking
Probably the biggest reason to make the switch is so that you can find your documentation more easily, especially for the tasks that have months or a full year between completion. Document management for AP is a solution that makes it so that you can review what you did in the past so that you can duplicate it. After all if it was successful last time, you want to ensure that you follow the same methods.
Process and Procedures
At the core of AP is the ability to consistently complete processes through the same steps. You should have processes and procedures for all the tasks to ensure that everyone is working through the same steps to get consistent results. Everything in AP should be done the same, regardless of who is completing the tasks. By making it easy to locate the latest version of instructions, you are ensuring that everyone has access to the answers they need. Document management also ensures that employees can find the current version instead of wading through several versions to find the one they need.
Integration with Other Departments
The busier a company is, the harder it is to maintain communication. Instead of relying on email as a way of sending documentation, a documentation management system makes it easier for departments to notify all departments when certain documents are available. If an error is found, it far easier to update it in a single place, then send out a notification, than it is to try to retract all the copies. If anyone finds a discrepancy or inconsistency, this can be discussed in a single place and the resolution provided so that everyone can see what was determined going forward.
Conservation of Space
By keeping electronic copies, you can save space in the office. If you have documentation retention requirements, you may need to pay for storage space, but the paperwork is not consuming valuable space in places where people need to work. With as much paperwork as is generated in AP, it is easy to quickly fill up an office with papers. Documentation management for AP lets you keep the office space uncluttered without taking away access to valuable information.
Implementation Is Key
The success of your system is heavily dependent on the way you implement it. It will require a considerable amount of timing and planning to ensure that it is optimized for employees. However, if you involve those who work in the process on a regular basis, even if they are not in AP, your system is more likely to streamline many different aspects. Contact CASNET today for an expert consultation.