Your AP team is making the business case for software that will expedite and automate your accounts payable business process. Following your organization’s recent acquisition of another company, your team has projected an increase in the number of invoices, and you know just how important it will be to control headcount.
Your team is charmed by Document Management solutions’ claims of “going paperless”. But is selecting a paperless solution really a strategic move for accounting and your organization as a whole? A closer inspection will reveal that eliminating paper is just the tip of the iceberg; will a Document Management solution satisfy your organization’s need for greater efficiency, collaboration and visibility to spending across operations?
A unified, paperless solution that is built for any device and manages the complete business process – from vendor management, to contract tracking, to purchasing, to AP invoice processing, to payment, to budget availability – will.
Here are three questions to help you dive beneath the surface in order to determine whether you have found a truly modern solution that delivers real-time control over spending.
1) How can we ensure that invoices are efficiently approved at the required level?
When a vendor’s invoice is emailed to Ariett’s Cloud document service, an employee can review the invoice, make adjustments and click submit, so the invoice is automatically routed for approval. Ariett’s multi-routing capability allows different invoice types to follow different paths; for instance, CapEx purchases can follow a completely different route than office supplies. By setting different approval limits for different employee roles, you can ensure that approvals are provided at the appropriate authority level. When Ariett sends your invoice on its approval path with just one touch from your AP team, it does much more for your team than simply entering the invoice into a database.
2) How can we have immediate visibility to invoice accruals and current budget?
With Ariett, your AP department no longer needs to wait until invoices have been entered into the ERP system to give you a full account of current spending and budget information. For example, you can run Ariett’s month-end accrual report or use our advanced Search screens to view a complete list of invoice amounts and their status by vendor. In addition, you have the ability to see how requisitions, AP invoices, expenses and even journal entry adjustments impact your budget. Ariett makes it easy for you to view current budget and take action on pending transactions from anywhere by providing you with a Touch interface that adapts seamlessly to the size of your phone, tablet or desktop device.
3) How can we gain a complete, end-to-end view of spending (including all requisitions, purchase orders, receipts and/or contracts that are associated with invoices)?
If your organization’s purchasing rules require that certain purchases go through a requisition to purchase order to receipt to invoice process, we’re right there with you. Using Ariett’s unified platform, your employees can submit a requisition that, based upon approval, becomes a purchase order for your vendor. When an invoice is received from a vendor, all associated invoice documents are stored along with the invoice. If, for instance, you have a yearly contract with a vendor, you also have the option to simply release invoices against the initial contract amount (without having to go through the requisition process). Ariett Contracts travel through a robust approval workflow that allows contract stakeholders to collaborate before the contract is approved.
With our response to these questions, we’ve aimed to show you just how far beneath the surface our solution extends – addressing both your current and future business needs and goals. Ariett not only automates invoice processing but also delivers one solution that allows you to manage spending across procurement, accounts payable and contract management processes – from any device. That’s much more than just paperless invoice processing!
Interested in learning more about Modern Accounts Payable? Please read our AP Best Practices Guide for 2015 by clicking HERE…