Businesses have the major challenges to face when it comes to the management of financial data. Accounts, invoices, transactions, track of the invoices associated with a single customer, and the list goes on. It is when Accounts Payable by Microsoft Dynamics 365 comes into the picture to help you with it.
Microsoft account payable automation enables you to move from manual processing of invoices to automatic. It means there are fewer errors and more visibility to the data.
So, how do you know that you need to automate your Dynamics 365 AP? Here are the 6 signs that can indicate if you the automation or not. They are some of the amazing accounts payable automation benefits to apply within your organization.
You keep hiring more accountants
If you are upgrading or replacing old employees, you are probably hiring the new generation. Millennials are a generation of technology, and binding them to the paperwork will be nothing but stress. So, automation is pretty easy for them to pick up with and start working immediately. Systems are really easy to adapt and to start.
You process more than 500 invoices a month
The workload is part of every job. So, if you have more than 500 invoices to be processed every month, you probably need little relief in managing them through automating the process. It will help in keeping track of all the invoices.
Duplicate, wrong data entries
Paperwork or manual sheet management can always lead to redundancy in the data. Manual data entry is problematic at times, and it often leads to repetitive content. When you get dynamics 365 for automation, you can get rid of all the wrong and duplicate data entries.
Manually print checks
Are you still manually printing the checks? Well, this is a huge reason to automate the system. With manual entry, you might still be missing the invoices or document. Printing the checks can also put the accessibility at risk. So, all in all, you need to get the information at your fingertips to deal with the pace of the digital business dynamics. OCR for invoice automation can be a real deal in this matter to avoid any hassles.
Your Business Is Growing but no automation
Profiting from your business is one aspect of growth. But you need to think about your customer needs and employees’ well being too. It is only to ensure that you are really in the right direction. Workload will increase, and you will come across more errors to deal with. So, it is time to ensure that you are ready to deal with all the growth by implementation automation on time.
Delayed payment approvals
If you don’t have a decisive process to deal with the approval process of the invoices, you are in deep trouble. Automation can speed up the approval process and send reminders to check the delayed approvals and avoid any possible issues.
Bottom Line
Automation includes IoT, AI-based predictive analysis, invoice coding automation, and automated accounts for you to manage financial data. It will keep you away from any hitches that come with the manual processes. So, if you want real-time data processing for your accounts departments, let’s talk. DHRP has people with expertise in the industry, and they can guide you through it from beginning to the training of staff.
