While many accounting software solutions like Microsoft Dynamics GP have some AP processing functionality, a purpose-built AP Automation solution that integrates with GP is a critical part of accounting automation. Now let's take a look at some benefits of AP Automation for Dynamics GP by addressing three AP pain points for GP users.
Three AP Pain Points Eliminated with Automation:
1. Time
Accounts payable processing is one of the most time-consuming functions required of accounting departments. Accounts payable workflows can automate approvals, invoice capture and offer flexible payment methods. Learn more about automation in this article: Why Didn't I Automate Payments Sooner?
How software can streamline month-end AP
- Visibility into all outstanding invoices from a single portal
- See who is holding up the process.
- Built in accrual reports that are compatible with your ERP (Learn about Fidesic AP for Microsoft Dynamics GP).
- Automatic invoice data capture (so you can focus on managing month end)
2. Costs
The cost to process a single invoice manually is generally agreed to average out about $12-$13 and has been known to run up to $40 or more. Automation simply reduces the cost per invoice from labor costs to the cost of printing checks. In addition, it will help you avoid late payment fees due to error and can also help you take advantage of early-pay discounts. Take a look at this blog post for hidden ways to AP Automation Reduces costs.
3. Working Remote
With Cloud AP automation for GP you can enable your AP department to do their job from anywhere with an internet connection.
- Remote Capture of Invoices
- Remote Invoice Approval
- Remote Payment Approval
- Outsourced Check Fulfillment
- Remote Data Capture from Invoices
- Remote ACH Fulfillment
Is Dynamics GP going away? Not According to Microsoft.
Since Microsoft adopted the cloud-first mantra a few years back, they have released a flurry of new cloud products for collaboration and productivity suites like Teams and Office 365, to the Dynamics 365 offerings. With all the rapid change, many partners and users are asking themselves, Is Microsoft Dynamics GP going away? According to Microsoft, GP isn't going anywhere anytime soon with updates expected moving forward. Learn More
At Fidesic we know that if your work life is improved, in most cases your quality of life also improves. We want to make your daily ‘grind' as enjoyable as possible, because everyone is entitled to joy at work. We base all development decisions on the voice of the customer, so if there's something we can do to make your work-life better, let us know, we'd love to hear from you.
