Why AP automation for Mid-Large businesses?
In particular, mid-market organizations manage their accounts payable departments and finances but have specific problems in their offices. Generally, mid-market companies cannot rely on the view of continuous company growth in their personnel, locations, and divisions on manually produced and managed tables or on other paper-based processes. Therefore, many mid-market enterprises are aimed at addressing their activities and processes with scalability and effectiveness.
Microsoft Dynamics ERP systems are often popular with medium-sized businesses. The MS Dynamics family products, which includes GP (35,000 companies), BC/NAV (117,000 companies, mostly international), D365/AX (20,000 companies), and SL (10,000 companies), is in use by approximate 180,000 (and growing) organizations. Microsoft Dynamics ERPs has a system design to support the versatility and development midmarket companies need to improve their business processes.
Barriers to Automation for Microsoft Dynamics Users
Given inefficiencies and bottlenecks, Microsoft Dynamics users often postpone implementing some of the AP automation solution. Many mid-market companies believe that they do not have sufficient invoices or a volume of documents to guarantee AP automation. They often assume the visibility that they need is provided by their current process in the Dynamics platform. Besides traditional automation problems such as budget deficiency, technological capital, and business priority, Dynamics consumers face several obstacles to finding a solution to their needs.
This problem stems from a lack of knowledge about the existing AP automation options. This is because the Dynamics absorption of users in the Microsoft environment and the reach of such a broad and influential platform limits their view of the entire market. They can discover that another Dynamics module, even if only partially or temporarily, may meet their requirements.
For all Dynamics users, the Microsoft Dynamics community is massive and overflowing with tools. Many businesses will turn to their Microsoft Partner of Record, group peers, related forums, and other trusted outlets to make educated decisions about their current technologies. As a result, mid-market companies, in particular, don’t see the need or have the time to learn more about available tools in the market and how automation could change their growing AP processes.
While these reasons could justifiably delay the automation of the AP before the COVID-19 pandemic, neither of these reasons is applicable in the current world. When the world turned to remote, different places, and fewer individuals in the room, the AP pain was more obvious than ever before. In particular, cloud systems, automation rapidly became the leading source of solutions that keep companies linked in a remote office setting.
Pain Points of MS Dynamics Users
- Manual data entry and inefficient processes:
This is the most significant issue. The team spends more than half time entering data manually.
- Manual routing of invoices for approval:
Manual routing is inefficient as the invoices can go missing or get late for approval even if you need them urgently.
- Majority of invoices received in paper format:
The majority of invoices come in paper format, and then to find the specific one takes a long time in the search, which is a wastage of more time.
- Inability to approve invoices in time to capture discounts
Paper format or manual entry makes it more difficult to approve them on time for the ongoing discounts and deals.
- Lack of visibility into outstanding liabilities
You will keep searching for the invoices required, and they will be under the pile of paper, which only leads to less visibility.
Benefits of AP Automation for Dynamics 365
The top engine for AP automation is manual data entry, as illustrated in the pain points. This challenge would eventually lead companies to automate their AP procedures, including manual invoice routing, many inconsistencies and derogations, and lack of visibility. Whether or when businesses are transforming into digital or not, it’s just a matter of how quickly.
As Microsoft Dynamics users adopt AP automation, paper invoice volume will be lesser than before, invoice routing will be quicker, and employee efficiency will improve. AP staff no longer go manually via paper and use their ERP information systems for automated invoice processing in Microsoft dynamics 365 finance. Their valuable time is spent on more strategic tasks such as analysis and reporting. Many Dynamics 365 accounts payable solutions are easy to incorporate into Microsoft Dynamics displays, resulting in a consistent and familiar experience.
The Dynamics market requires closely integrated, scalable, fast-deployment, easy-to-use Accounts payable automation solutions at an economical price.
AP Automation in Dynamics 365 FO with DHRP
With AP automation in Dynamics 365 Finance and the entire Dynamics ERP suite, DHRP lets companies go paperless. DHRP makes it simpler than ever for users to connect and display documents directly to their ERP device.
With the global content search features, DHRP stores documents digitally so that even non-ERP users can locate the required documents. In addition to managing documentation, DHRP provides Microsoft dynamics accounts payable solutions to ensure fully digital touchless payable workflows and the procurement of invoices.
