How to Improve Accounts Payable Processes

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When it comes to chewing up resources, keeping numbers in check is one of the costliest and most time consuming tasks a business is burdened with. For SMEs on tight budgets, it’s essential to implement strategic accounts payable processes that are fast, smart and cost effective. So how can your enterprise augment its approach? Read on for an insider’s guide to improving your accounts payable process.

Utilising invoice data capture services

Today’s SMEs enjoy access to cutting edge technologies, and your business should absolutely be leveraging what’s available. Invoice data capture services are designed to manage a myriad of statements and accounts, including supplier invoices, accounts payable, purchase ledgers, sales proof of purchase documents and more.

Typically, businesses are required to manually key paper invoices into their electronic accounting systems. However this can be extremely time consuming and expensive, especially if professional accountants are paid to complete the process. This is where invoice scanning comes in.

Investing in a scanning solution will arm your business with the ability to automatically capture data in a matter of seconds. This makes the process fast, efficient, accurate and above all, cost effective. Pearl Scan can offer your business three flexible options, as outlined below:

a) We can collect your invoices on the required frequency. Bi-weekly, weekly or monthly – the choice is yours. This is a great option for business in search of a fully managed invoice data capture solution.

b) A dedicated P.O Box can be setup for your suppliers to send invoices to. This ensures that all invoices are directed to one mailbox where we can pick them up straight away.

c) You can scan and upload daily batches of invoices to our FTP. For businesses wanting to minimise costs yet still enjoy the peace of mind that their documents end up in the hands of the pros, this is a streamlined and cost effective option.

Ready to supercharge your business with an automated accounts payable process that captures all your invoice data, as it arrives? Get in touch with us today to discuss your unique business needs, and how Pearl Scan can help.

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