Considering how intelligent technology can automate data entry, document storage, and auditing procedure to reduce processing time, streamline workflows, support remote work, reduce errors and fraud, and gain visibility across AP. Looking for ways to automate more of your invoice processes as you establish the policy.Keeping the policy clear and concise while still covering the basics, and have other departments review drafts to ensure the policies are fair, the document is easy to understand, and that anything confusing or ambiguous is addressed before wider distribution to ensure policy compliance.Examining your procedures, looking for ways you can work with vendors more efficiently. Considering how you work with vendors.Asking team members from different departments to participate in the creation of the policy so you can get their input on their challenges and encourage them to act as policy champions within their departments.To get started, first review the 7 tips such as: The easier a policy is to understand, the easier it is for your employees to follow and enforce. ![]() ![]() Once created and enforced, an effective invoice management policy can greatly reduce the amount of time related to the tasks of approving and processing vendor invoices, addressing exceptions, and managing and storing documentation. Take Away AP Pain with a Strong Vendor Invoice PolicyĬreating a policy for managing invoices may seem time-consuming initially, but in the absence of a policy, organizations are operating in the wilderness without a map.
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