AP Automation is an obtainable goal in this century, in this decade, this year! In fact, companies like Pepsi are already doing it. How may you ask? If you can relate to this stat from recent AIIM research where 52% of respondents say their invoice processes take at least three days – some up to as many as 25 days – when using manual solutions for invoice data entry, validation, and approval using paper, you are a prime candidate. So, where to start?
When you’re working to document your processes, an initial goal is to map the workflow of the typical, standard task, getting the most common branches outlined. This will comprise of the steps you know well, the steps that already run fairly smoothly. Yes, this will not cover every scenario, but that’s ok at this stage.
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This is an overview of what is involved when it comes to documenting how to automate your processes. Of course, the devil’s in the details, and certainly, this is not the only way, but after listening to and learning from hundreds of our industry’s best consultants and analysts (the benefit of producing so many webinars – I listen to them all), I think this is one approach for you to consider.
When I was a young child, in an era when school papers had to be researched in libraries with card catalogs and shelves upon shelves of books, my father had the bright idea to purchase a complete set of Encyclopedia Britannica. Now, we lived on a tight budget, and my mother wasn’t too thrilled with this splurge when a perfectly good library was so close to home. Dad wouldn’t hear of it! “Our girls need the best education we can offer,” so of course, mom relented.