Joann Zbierski

Top 10 Benefits of AP Automation: ⏰ Time Savings: AP automation eliminates manual data entry and paper-based processes, saving time for AP professionals. 💰 Cost Reduction: By reducing manual work and paper-related costs, AP automation leads to cost savings. 📊 Improved Accuracy: Automation ensures accurate data capture, minimizing errors associated with manual data entry. 🚀 Faster Processing: Automated workflows and approvals speed up the entire AP cycle, enabling faster payments. 📑 Enhanced Visibility: Real-time visibility into invoices, payment statuses, and financial metrics empowers informed decision-making. 🔒 Stronger Controls: Automated approval workflows enforce compliance and reduce the risk of fraud. 🔄 Streamlined Workflows: Automation optimizes invoice routing, approvals, and exception handling, reducing bottlenecks and cycle times. 📧 Electronic Communication: AP automation enables electronic communication with vendors, improving collaboration and efficiency. 🌐 Integration with ERP: Seamless integration with ERP systems provides a unified view of financial data and streamlines processes. 💡 Strategic Insights: Advanced reporting and analytics offer valuable insights for spending patterns, supplier performance, and cash flow management. Top Vendors: Kanverse: Kanverse offers competitive pricing and advanced OCR technology for accurate data extraction. Their customer service is responsive, and they provide seamless integration with ERP systems. The payment portal ensures secure and efficient payment processing. Esker: Esker provides flexible pricing options and reliable OCR technology. They are known for excellent customer service, offering dedicated support. Integration with ERP systems is strong, enabling smooth data exchange. Their payment portal streamlines payment management. Yooz: Yooz offers competitive pricing plans and advanced OCR technology. They provide responsive customer service and seamless integration with ERP systems. The user-friendly payment portal facilitates efficient payment processing. Bill.com: Bill.com offers pricing plans suitable for small businesses to enterprises. They employ robust OCR technology and provide responsive customer service. Integration capabilities with ERP systems are strong. Their intuitive payment portal simplifies payment processing. These vendors have been briefly commented upon, but it's recommended to directly contact them for accurate and up-to-date information on pricing, features, and customer experiences. Do you have AP automation today?  What do you struggle with?  How can I be of assistance.  Let’s chat!  Comment, like and share!!! #buildabettertomorrow #processimprovements #accountspayable

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“I can’t find a bookkeeper or an AP specialist. Can you help?”     Whenever I talk to other business owners about the roles they’re struggling to fill, it’s finance and accounting that comes up.     And I always tell them the same thing: you’re looking in the wrong place.     Literally.       We’ve got about 300+ accounting team members supporting our US partners.     They’re all…   ✅ College educated in accounting  ✅ Experienced in AR/AP tasks  ✅ Trained in multiple accounting software packages  ✅ Available US hours  ✅ With great experience    And they can start in about 14 days.       Hiring junior finance and accounting team members in the US has become so challenging that senior staff end up picking up the work just to get it done.     It slows a business down and wears down finance leaders who should be able to focus on the bigger picture.       But accounting is a global language — its principles are consistent wherever you are in the world.     And that makes it easier to find great finance talent outside the US.       Outsourcing isn’t just delegating tasks. It’s finding team members for all kinds of roles.     There’s a whole workforce of talented accounting staff ready to start work and free up time in your business.     You’ve just got to know where to find them.         #GlobalOutsourcing #TalentShortage #Recruitment #Accounting 

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On average, accounts payable teams have a 99.95% accuracy rate. In any other industry, that’d be considered a miracle - non-AP professionals wish they had a success rate even remotely close to that number. Ask any AP team, though, and they’ll tell you it’s not enough. In their eyes, that fraction of a percent is important. The tough truth is, it’s challenging for a large business to achieve 100% accuracy in their payments – human error, technological anomalies, and unexpected, uncontrollable mistakes are inevitable. But that doesn’t mean that unavoidable errors should keep the AP team down – they’re so close to perfection, and we think they deserve it. FlexTrap can get them there. FlexTrap is the AP error prevention tool that catches those hard-to-find errors before they’ve even gone out the door. It’s the AP team’s secret weapon – and it’s designed to get you closer to 100% accuracy than ever before. Interested in what that could look like for your organization? Shoot us a message, or learn more about FlexTrap here: https://lnkd.in/e_K3d85h 

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I have shared this in the past, however felt that it was worth a reshare for those new connections who may be evaluating AP Automation. There is no magic wand or secret formula for becoming a top-performing AP department. Making the jump from average to best-in-class is as simple as this two-step process: 1) Measure the most valuable KPIs according to your operational goals and evaluate them over time; and 2) Leverage a solution that can optimize KPI management while improving AP invoicing as a whole. Take a look at what Esker Inc has highlighted as the 10 most important KPI's to monitor. #apautomation #kpis #accountspayableautomation #accountspayable #technology

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2 Comments

One step you should consider is reframing your AP department to become a more efficient business function. Where do you start? Take a look at 5 core competencies that best-in-class AP departments follow: https://lnkd.in/eH8XyyTH

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One of the things to me that is frustrating about the federal hiring process is that the first person to make a decision about your resume is the "all-knowing computer." I understand the idea of narrowing down the pool of candidates so that hiring teams aren't overwhelmed with resumes, but realistically people reading resumes lose interest if you go much further than two pages. The best candidates are being left off of hiring certs because of things as simple as they didn't put how many hours they worked every week. I get that you can use the resume builder to fill some of these boxes without knowing, but that still might not get you through the computer. I get it, all I have to do is copy the job announcement, make it size one and white font and hide it in you header and you'll get beyond the computer on any cert, but there has to be a better way to make sure that the government isn't missing out on the best candidates that are applying to their openings.

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As organizations continue to outsource third-party vendors, it’s important to make sure you keep up with the latest updates. Subscribe to our IT Security & Controls resource center at Forvis Mazars for all things SOC & HITRUST sent straight to your inbox!

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As organizations continue to outsource third-party vendors, it’s important to make sure you keep up with the latest updates. Subscribe to our IT Security & Controls resource center at Forvis Mazars for all things SOC & HITRUST sent straight to your inbox!

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