Streamline The Manufacturing Accounts Payable ProcessSource: iDatix
Manufacturers know that good process automation and lean manufacturing deliver efficiencies that may benefit the bottom-line. Many manufacturers don’t apply the same cost-saving rigor to improving productivity in the back-office. Misplaced or incomplete paperwork can bog down operations, delay just-in-time ordering and lower organizational productivity. Paperless automation can achieve the exact opposite, speeding up operations and boosting efficiency.
Searching for the right information, filling out paperwork and gathering approvals takes much more time than most management teams realize. Accounting and finance professionals spend a large portion of each work week looking for information, analyzing and formatting it, routing it for review and approvals and finally, filing and storing it. Each step may take only a few minutes per document, but it adds up fast.
When automating workflows with ECM, manufacturers achieve a rapid return on investment (ROI) in the Accounts Payable (A/P) department where transaction volume is high and a backlog of paperwork can pile up quickly. To save time, reduce expenses and improve efficiency, manufacturers should strive to automate as much of the A/P process as possible using Enterprise Content Management software with automated workflow functionality.