Not known Factual Statements About Accounts Payable Automation Benefits

In the cost-driven business environment that exists today companies are always
looking for a competitive edge. This invariably means looking at the fixed costs
associated with back-office operations and driving efficiency initiatives to get
more “blood out of the stone”. Doing more with less is a common philosophy
and process automation is one of the key objectives to achieving a lean
business.

In Accounts Payable the ideal scenario is to achieve straight through processing
(STP) of supplier invoices, and in this paper the author gives a clear
understanding of what ‘Straight Through Processing’ is, how it can be of benefit
and what to consider before implementing a solution.

A true Straight Through Processing (STP) Solution allows an invoice to enter
your accounting system and pass straight through for payment without any
manual intervention from staff or management. The invoice will have been
matched to its original Purchase Order, Delivery Note or GRN where required. It
will have been automatically coded, website allocated and approved by your system and
made ready for payment in time more info to gain the most advantageous terms.