Photo of two people working on a tablet.

Accounts payable: busy work? Or critical business function?

Accounts payable processes are highly transactional and typically very labour intensive. Invoice processing for accounts payable consists of time-consuming tasks which makes poor use of internal resources in an increasingly challenging labour market. Although accounts payable (AP) can seem like back office busy work – in reality, it’s the backbone of an organization.

Prior to the pandemic, many businesses didn‘t actually believe critical financial processes could be effectively run via remote and distributed models. That’s all changed.

Outsourcing AP front-end functions can be beneficial – if you choose a partner who can meet your needs. Experts at Ricoh have compiled solution values to look for when you’re considering a business process automation partner.

Business rules exception processing

There are many common problems in invoice processing that pose challenges for AP departments and they often result in missed early payment discounts, late payment fees, vendor conflicts and lost revenue. These problems are often amplified for larger organizations with more than one AP platform and decentralized purchasing. Some of these challenges and possible fixes:

Recommended for you

County of Madera, CA
County of Madera, CACase Studies

County of Madera, CA

Find out how the County of Madera, CA, used fleet modernization, scanning and document digitization to save hundreds of thousands a year in costs.

Process automation saves time and money
Process automation saves time and moneyCase Studies

Process automation saves time and money

A furniture retail chain sees major improvements in invoice processing time and projected costs after implementing Ricoh’s Smart Digital Processing Suite.

SMBs must be serious about information security
SMBs must be serious about information securityArticles

SMBs must be serious about information security

Data security breaches are likely inevitable. It takes powerful resources skilled in data security and steady monitoring to confront today's threats.