There’s a common but vital linchpin driving most of the features of a society as modern as ours, and that’s automation. From the way we shop, to the tech we use everyday to make our lives easier, automation is the driving force behind it all. And you can bet your bottom dollar that that zeitgeist has crossed over into the way we run our businesses.
With the rise of the enterprise resource planner (ERP), plugging business processes into automated solutions is done literally with the click of a mouse button. And that automation has made all of the crucial systems that run a business – accounts, sales, marketing, human resources, and more – exceedingly efficient. With automation, enterprises can be agile in the market, and so are more susceptible to remarkable growth, and thus can be profitable to a degree we only could’ve dreamed of, before these tools arrived.
Let’s stay with the accounts department here – what is accounts payable automation, and how do you choose an accounts payable automation solution that’ll help bring your business into the future?
Choosing Accounts Payable automation solutions
When it comes to automating your accounts payable process, there are a few key considerations to keep in mind. Here are a few factors to help you choose the right accounts payable automation solution for your business:
- How much invoicing do you process each month?
- What is the average value of each invoice?
- How many different suppliers do you work with?
- Do you have complex approval processes?
- What ERP system do you use?
- Are you looking for a cloud-based or on-premise solution?
Once you know the answer to these questions, you can start narrowing down your options to find the best fit for your organisation. Accounts payable automation solutions vary in terms of features, price, and complexity, so it’s important to choose one that meets your specific needs.
What to consider when you choose accounts payable process automation
If you’re processing a large volume of invoices each month, you’ll need a solution that can handle the workload. Likewise, if you have a lot of suppliers or complex approval processes, you’ll need a solution that is robust enough to accommodate your needs. On the other hand, if you have a small number of invoices and a simple approval process, you may not need all the bells and whistles offered by more comprehensive solutions.
Think about your ERP
Your ERP system is another important consideration. Some accounts payable automation solutions are integrated with specific ERP systems, while others are compatible with a range of systems. If you’re using an older system or one that isn’t widely used, you may have fewer options when it comes to automation.
On-premise or in the cloud?
Finally, you’ll need to decide whether you want a cloud-based or on-premise solution. Cloud-based solutions are typically much easier to set up and use, but they can be more expensive than on-premise solutions. On-premise solutions require more IT resources to set up and maintain, but they can be more cost-effective in the long run.
Once you’ve considered all of these factors, you’ll be well on your way to finding the best accounts payable automation solution for your business. With the right solution in place, you can save time and money on your invoicing process, freeing up resources to focus on other areas of your business.
And it just so happens that we have the solution just for you, so look no further. DOKKA’s accounts payable process automation software, is powered by smart AI in the cloud, to give you all of the above features. So, contact us now, and we’ll help add some accounts payable process automation superpowers to your business.