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3 Ways to Profit by Automating Accounts Payable

Mar 8, 2016 8:09:49 AM / by

By automating your Accounts Payable (AP) department with an Enterprise Content Management (ECM) solution, your organization can profit by reducing cost, enhancing productivity and increasing cash flow.

A company using ECM software to automate their AP department can achieve the following:

Reduce Cost

  • Reduce manual and tiinvoice-paid.jpgme consuming tasks
  • Reduce the need for printing and storing paper based information
  • Reduce employee hours including overtime

Enhance Productivity

  • Increase system wide automation. OnBase, an ECM system designed by Hyland Software easily integrates with almost any software, allowing organizations to leverage the value of existing IT investments such as Line of Business application
  • Increase visibility into current processes and gain efficiencies by electronically capturing all documentation in any format. This information can then be stored in one system integrated with the Line-of- Business application.

Increase Cash Flow

  • The implementation of an ECM solution will drive process efficiency, improve data and process quality and help the company increase cash flow by measurably reducing DSO ( Days Sales Outstanding ).

 It has been documented that organizations who have deployed an ECM solution as a part of their AP automation strategy have measurably increased cash flow. To read more about increasing cash flow and other benefits ECM can provide to Accounts Payable, check out this case study created by our ECM partner, OnBase.

Case Study  - link

Topics: accounts payable, Enterprise Content Management, Enterprise Content Management

Tom Warren

Written by Tom Warren

Enterprise Content Management Business Development Director with Phillips Office Solutions. A twelve year veteran working with customers to solve business problems and a twelve year Board Member for the Cystic Fibrosis Foundation. Has helped CFF raise over $1 million for their cause. A husband, father of four boys and enjoying baseball and skiing in his free time.

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