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The Decline of Manual AP Processing

The Decline of Manual AP Processing

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Published by Anybill
Accounts payable is changing dramatically and rapidly. Automated processes and the evolving best practices that allow organizations to use them effectively are quickly replacing manual processing. It is becoming undeniable is that manual AP is on its way out. Look for automating process to become one of the hot trends in AP.
Accounts payable is changing dramatically and rapidly. Automated processes and the evolving best practices that allow organizations to use them effectively are quickly replacing manual processing. It is becoming undeniable is that manual AP is on its way out. Look for automating process to become one of the hot trends in AP.

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Published by: Anybill on Jun 25, 2013
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06/25/2013

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Accounts payable is changing dramatically and rapidly.Automated processes and the evolving best practicesthat allow organizations to use them eectively arequickly replacing manual processing. It is becomingundeniable is that manual AP is on its way out. Look orautomating process to become one o the hot trends inAP or 2012.
W? Icad fcic ad pdcivi? Acca pam ada cci? Dcad ppi  ad? A gd a. 
Now consider the impending changes in the U.S. Postal Service. The one-dayproposed increase in mail delivery time will directly aect AP processing ow;AP will have considerably less time to process invoices and payments. Potentialconsequences include loss o early payment discounts and additional late ees.Automating the AP process adds efciency into the system to counter balance this“lost time.” What about more stringent government reporting requirements, notto mention the need or efcient and responsible data handling? AP automationplays a vital role in managing vendor inormation. And, don’t orget raud…scamsare becoming more sophisticated. Manual AP processing provides gaps orunscrupulous employees and thieves to recognize and exploit weaknesses. Forthese reasons and more, 2012 is the year manual AP processing starts makingroom or automation, new technology, and evolving best practices.
W w?
Forward-thinking organizations have long recognized that technology increasesAP productivity and efciency. The problem has always been implementation costs.Automated systems have been prohibitively expensive, especially or smallerorganizations. Yet, automated AP options now exist or almost any size company.There are, o course, top-o-the-line, ully automated systems, but many APdepartments are using common technology to create semi-automated processes.Accepting invoices via email and e-ax are simple examples. Third-party invoice
T D  maaAP P
By MAtt Voorhees, Ceo AnD Co-FounDer oF AnyBIll

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