3 Most Common Pitfalls in AP Process with IBMi
Posted: 4th December 2017
Companies everywhere are being faced with challenges on how to improve business processes on many levels. Automation is a primary focus and is crucial for businesses to survive. Robotic automation is helping improve business processes every day.
“McKinsey studied 2k individual work processes and found 45% could be automated with already demonstrated technology”
Where to start?
The Accounts Payable process often takes too long, costs too much and requires a lot of effort. Staff can often be fed up with having to deal with the manual processes involved, while managers can get frustrated with the backlog of purchase invoices waiting to be processed and approved for payment. This often has an impact on supplier relationships and staff moral, not to mention the bottom line.
3 Common Pitfalls
Accessing the right data at the right time
Accounts payable automation success relies on incremental efficiency gains at every step of the process. Automatic validation of the information extracted from the purchase invoice at scan time is one area where gains can be made. It is important to choose a supplier that fundamentally understands the environment where your business data is stored and how to access it efficiently. Choose a supplier that understands how to work with IBM Db2 and can leverage the inherent functionality in the IBM i operating system.
Ultimately, purchase invoices will end up on your finance system ledger. Getting them there efficiently requires harmony between the invoice capture and workflow systems as well as your ERP system. An accounts payable team needs maximum visibility once the invoices have been received by the ERP system in order to address potential issues such as matching exceptions and payment authorisation, etc. Choose a solution that is able to transcend both IBM i and Microsoft Windows environments which will subsequently give the business users timely information in context to their role and relevant activity.
A successful implementation requires all stakeholders in the process to be involved and inputting ideas into the eventual accounts payable automation solution. This encourages solution ownership as well as higher levels of adoption by the employees who ultimately, will be making a success out of the project. It is often the case that the solution you are looking to replace has been around a while and is really comfortable and familiar to the AP team, though potentially unable to cope efficiently with the volume of purchase invoices that the are being received, especially if the business is growing. Green on black emulation screens coupled with manual matching will be a thing of the past in most enhanced AP automation process. Choose a solution that users can relate to and leverages any good features of your existing process.
We here at Cobwebb can help provide a solution to make your Accounts Payable process faster, more accurate and less labour intensive.