ACCOUNTS PAYABLE AUTOMATION
FileBound’s workflow and document automation solution make Accounts Payable processes easy, efficient, and effective.
Analytics & Integration
In today’s demanding, quick turnaround work environment, Accounts Payable employees have a full to do list. FileBound can help them rest easy by providing our intuitive, all-encompassing automated solution that easily integrates with existing accounting systems, and includes a centralized dashboard to save time and provide strategic analytic insights to improve processes.
Invoices & Approvals
Instead of managing and routing invoices physically or via email, FileBound’s workflow and document
automation solution makes processing invoices and payments an easy, straightforward process. By automating time consuming manual duties AP professionals will spend less time chasing paperwork and confirming approvals, and more time on valuable tasks that further the cause of your organization - all while improving accuracy and efficiency.
Every organization, no matter the size or industry, has an
Accounts Payable department. And most of these departments
are continually looking for ways to simplify and streamline their processes to gain efficiency, improve accuracy, and ultimately cut costs. That’s why it’s critical to appropriately identify places in the AP process that could use improvement
FileBound helps busy AP staff manage the tasks associated with
everything from invoice processing, to audits with ease.
Manage the intake and processing of invoices by automatically extracting key data (like PO numbers, vendor name, invoice number), appropriately filing documentation, and automatically storing in the cloud for quick retrieval.
Once an invoice is in the system FileBound automatically routes the required documents to appropriate employees for approval based on created roles or requirements, delivering notifications and tracking activities to improve transparency and eliminate bottlenecks.
FileBound manages and monitors payment deadlines so nothing is missed, and late fees or duplicate payments are a thing of the past.
The intuitive dashboard automatically populates useful analytics and notifies staff of any pending due dates, so any challenges — like invoice processing time — can be strategically and continually improved upon.
As any Accounts Payable professional knows, timely payment is only half the battle. By harnessing
our workflow automation and document management capabilities, your organization can conquer
those everyday tasks, while ensuring that your data is consistent, compliant, and secure. That
way, you’re prepared for anything the workday might bring, whether it be tracking down a vendor
payment or preparing for an annual audit.
Enhancing the Effectiveness of your AP Processes
To achieve success and ultimately build a competitive advantage, focus and attention must be given to the intricacies of the AP process. AIIM highlights three areas where organizations can innovate their AP processes.
Download our eBook here to learn more.