Why Document Management is the Peanut Butter and Jelly of Your Payables Department

Automating accounts payable processes with a document management/AP automation solution increases visibility into a company’s financial information and provides a platform for greater control of cash management. Without an automated solution in place, companies encounter many challenges when it comes to handling cash flow. According to IOFM, 45 percent of controllers identified a lack of visibility into financial information as their top payables challenge. As if that weren’t enough, 42 percent of controllers referred to the difficulty of handling, managing and finding invoices as their biggest payables challenge. This has led to finance executives being unable to manage cash accurately and effectively.