When you have migrated from paper-based invoicing to e-invoicing to automate the accounts payable systems, your options to measure your benefits increase exponentially. Why? Because automation offers a map of work flow. So, by digitizing your invoicing processes, you not only simplify the whole process, but also obtain better supervision of your business operations. Let us discuss how this work flow map comes into existence and how to use it.
Document Your Business Process Easily
When you are working with paper-based invoicing, there are a lot of variables that you cannot calculate or control. Therefore, a paper-based AP work flow map would always have gaps in it. However, as e-invoicing centralizes the information while securing it, and notifies you of every update, this system can easily create a workflow map.
Profiling Employees and Vendors
By selecting e-invoicing solutions, you can keep a track of your vendor’s preference. Plus, as digitizing invoices comes with the capability to work with different formats, you can satisfy all the vendors without wasting away money on developing separate strategies for everyone. This simplifies the whole operation easily. Plus, keeping a track of the preferred payment process and notification requirements of employees is easy with e-invoice. All these features really help in developing the map you need to formulate an idea of your business improvement.
Getting Review and Approval Based Information
E-invoicing gives you instant updates on your company’s invoice approval or review situations. You can calculate the flow of money in and out of the business, and can even predict a pattern. This in turn gives you more control over the whole situation.
By developing a map of workflow in business, you get a clear vision of the outcome and can even modify it for your success. Feeling inspired? Go for AP automation today. Contact us for assistance.