Get on the Paperless Fast Track this Holiday Season

With the holidays quickly approaching and many retailers expecting a spike in sales and activity, success relies heavily on the effectiveness of the internal financial process and the accounting department’s ability to handle the increased number of invoices and financial data. With paper invoices—which are received locally to each retailer but paid centrally—the accounting department may be blindsided. Hundreds and thousands of invoices and bills are likely sitting on the desks of store managers, and accounting has no idea that this significant financial burden is out there. Furthermore, delays and shipping costs inherent in transferring paper to and from distant retail locations mean headquarters has little negotiation power with vendors and often misses the opportunity for discounts granted for on‐time payments, while they often sustain penalties for late payments.