Companies that have invested in AP automation software often become frustrated when they don’t see the complete return on investment that was promised, but what these companies don’t realize is that they may be sabotaging their AP software’s performance by printing documents.
Printing is the enemy of AP automation software because it disrupts automated workflows and hinders your team’s ability to track key performance metrics. Printing is also expensive and it destroys the cost-effective benefits of a paperless office that automation software was designed to provide.
This article will explain why your team should quit that printing habit to improve your AP performance and capitalize off of all the performance benefits that automation software has to offer.
Printing Disrupts Workflow Automation Processes
AP automation software streamlines business processes by fixing the invoice approval process. Instead of the slow manual process of physically handing off invoices for approval and manually inputting data, AP software utilizes digital workflows to automatically move an invoice on to the next step in real-time. The software also offers an electronic signature feature so there is never a need to print and physically sign off on a paper document. It can all be done with a few quick clicks from your computer or mobile device.
With automated workflows on your side, your business can benefit from time savings, but when team members print out an invoice, the digital workflow is disrupted and slowed down. Lots of time is wasted in printing a document and it is entirely unnecessary. AP automation centralizes the accounts payable process to save valuable time, so why would you work against your software?
It may be a natural habit to hit print even after the software is implemented, but it is crucial to educate your team on how printing a document at any point of the AP process defeats the purpose of the software and adds unnecessary operational costs. Help your finance or AP department understand the benefits of electronic signature software and automated workflows so your company can leave the heavy lifting to your office automation solution and save valuable time.
Printing Hinders AP Automation ROI
AP automation software offers a strong ROI because core processes are done digitally instead of on costly physical paper. Print and mail procedures are expensive when you consider the cost of paper, ink cartridges, stamps, envelopes, and operating costs. The cost of fixing a single printer jam can also easily run up your office budget and if you run out of toner then business functions are put on hold.
With AP automation software on your team, your company will save significant funds while seeing a strong ROI on your investment because none of these printer costs are needed. However, businesses that fail to ditch their print habit end up wasting unnecessary resources and profits. Working against your office automation tool not only adds avoidable costs on the supply end, but print jobs also slow the seamless automated AP workflow, causing you to miss out on capturing early payment discounts for faster cycle times.
Printing Ruins Visibility Into KPIs
By centralizing AP processes, your automation tool offers greater visibility into key metrics so your finance department can focus on tracking KPIs for increased performance and cost savings. By measuring your AP performance, you can easily set goals to cut the cost per invoice and speed up invoice cycle times for overall increased operational efficiency. However, when employees print an invoice at any step of the process, KPIs will be thrown off since your office automation tool will have no way to track the document.
There is never a true need to print an invoice at any step of the process because your office automation solution does it all. Your accounts payable team should focus on tracking process visibility when you make the transition to a secure, centralized AP process and let the software do the heavy lifting. AP automation software also offers user permissions and controlled access to digital files for increased security measures while physical document drafts always come with a risk. By taking advantage of workflow automation, heightened security, and process visibility your business will be well on its way to becoming a World Class Accounts Payable Department.
It may be difficult for your employees to adjust to different responsibilities but that is why it is important to educate them on the benefits of an office automation tool. Your AP team will soon realize that tracking key metrics and business functions is much more empowering than mundane manual data entry.
For many professionals, printing is just a tough habit to kick, but once you realize the valuable time and profits that can be saved by going paperless, printing will be the obvious enemy.
If you’re ready to quit the print environment, check out our AP Automation Software solutions.
Contact Us to go paperless today.