Take These 3 Steps to Kill Efficiency in Accounts Payable

Do you find your accounts payable department just a little too efficient for comfort? Wishing things would slow down a tad? You are in luck. We're here to help you hit the brakes and bring your AP processes to a screeching halt.

Here's what you need to do:

• Use OCR to capture invoice data. Nothing like spending hours resolving OCR read errors and adjusting OCR maps that don’t work as promised. And let's not forget the thrill of learning that AI doesn’t make your OCR solution any better.
• Let your Procurement team choose your AP solution. Procurement teams care about managing spend and automating the PO process. You know what they don’t care about? Making the AP process efficient. Yet CFOs often get tricked into buying eProcurement suites that claim to include AP solutions for “free”. If you want to be inefficient, follow this approach.
• Always handle vendor inquiries manually. Love a never-ending stream of vendor inquiries? Spending hours responding to payment status requests is just the highlight of any AP team's day. Nothing like getting completely sidetracked from actual work while drowning in a sea of queries.

Of course, nobody wants to kill efficiency. If you thrive on achieving high levels of productivity, then AP Automation is for you. Transcepta’s AP Automation platform helps AP teams eliminate manual processes, speed up invoice approval, and gain visibility into every part of the AP process for better decision making.

With Transcepta by your side, you'll streamline GL coding and approval workflows, automate the PO matching process, and manage cash more effectively. Transcepta liberates AP teams from OCR and empowers them with a Digital Supplier Network to eliminate invoice exceptions. Suppliers resolve invoice exceptions before they hit the AP inbox and are kept well informed through the invoice to pay cycle. So say goodbye to those payment inquires!

The benefits of AP automation extend well beyond efficiency gains and eliminating invoice exceptions. To learn more:

• Watch 2-minute video to learn about the AP Automation benefits.
• Watch 3-minute video to learn how Raytheon moved to a 100% digital AP department.
• Dig deeper in the Raytheon's story in the latest case study.

So what are you waiting for? Let's make magic happen together and take your AP game to the next level. Reach out to us today and let's get started!