Working in accounts payable can be tedious and stressful, especially when period closings and audits roll around. From redundant data entry and stuffing envelopes, to bogged down or outdated software systems, boosting efficiency in your AP process can take the strain off your accounting team's shoulders.
Thinking about AP Automation? Learn More: 10 Tips for a Successful AP Automation Project
10 Signs You Have Too Much Stress in Your AP Process
Whether you are outgrowing your current AP process or you have been struggling with it for years, if you are experiencing any of these symptoms, it may be time to destress your accounts payable department.
- Month-end closings are a perpetual headache
- Inefficient, paper-based processing
- Invoice approval process always has you chasing down signatures
- Redundant, inefficient data entry
- Late payments are a common problem
- Still signing checks manually
- Your current process can't support new growth
- Uncertainty about payments fraud and security
- Too many exceptions and errors
- Lack of audit traceability
These types of complications are not only slowing down your entire accounting process, they can reduce staff morale and impact productivity. Luckily there are ways to improve!
