2 Top Traits to Look for in a P2P Automation Solution Provider: Ease and Experience
With so many automation solutions and solution providers out there, how do you know which one will best serve your company’s needs?
The growth in technology for finance has increased exponentially over the past five to ten years. From scan and capture to e-invoicing to e-payables to full P2P automation, the options continue to grow. But though options may abound, understanding which ones work best for your company may not be so clear cut.
When it comes to the procure-to-pay functions, the initial goal is usually to free the procurement and accounts payable departments from the inefficiency and cost associated with paper and manual processes. Automation does indeed streamline the processes, eliminate inefficiencies, and reduce costs. Most AP automation solutions will achieve these goals, but in a time where so many solutions are available, it’s incumbent upon finance professionals to seek out a solution that goes beyond the basics.
Yes, your solution should streamline the invoice approval process. Yes, it should enable invoices to go straight through for payment with little or no manual intervention. Yes, it should afford visibility into the invoice status, 24/7. And yes, it should include a supplier portal. So what more should you be looking for in a solution and a solution provider? Two very specific traits…ease of use and expertise.
Whether you’re working in a B2C or B2B environment, the main focus should always be on making the end-user’s experience as easy and trouble-free as possible. When we’re talking about a SaaS provider that means creating a solution that’s user friendly, adapts easily to your existing business processes, and requires as few click-throughs as possible. An ideal AP automation solution brings up on the invoice processing screen simultaneously showing the invoice image and any invoice data captured plus a section for entry of accounting codes, all with a single click. This enables users to see all of the information they need at one time instead of switching back and forth between screens which adds clicks and unhappy end users.
The other trait your solution provider should possess is best practice AP domain expertise. If you’re an AP professional, you want to ensure that you deal with a company that’s as much partner as it is provider. And that means a company that has expertise and years of background in accounts payable. You’re not simply looking for a cloud-based SaaS solution…you’re looking for a cloud-based “AP Best Practice” SaaS solution, one that’s designed to handle all of the concerns and issues relating directly to accounts payable. You want a solution that’s easily configurable to your department’s requirements and needs. When you have a solution that’s been created by AP experts, most of what you require has already been preconfigured into the design.
See how automating your P2P processes can eliminate hassles…if you select the right partner.