Here are six ways AP genie can help…
Remote workforce. Nobody checking the actual mail. Managing approvals through emails (if you’re lucky). Lack of resources. These are certainly challenging times for accounts payable teams. Never fear, AP genie can help. Here are six ways that AP genie can make life easier for your accounting team in the new normal.
1. Reduce manual data entry
Keying in invoices isn’t very fun. Especially if you have to do it several times a day or week. Reducing data entry is one of the cornerstones of AP genie’s accounts payable automation solution. We let you upload or submit the invoices and our cutting edge technology (using machine learning tools) will grab the data for you, reducing the bulk of your manual data entry. All you have to do is review and send it along for approval.
2. Fight fraud
Fraud happens to companies all the time. Having AP genie in place will strengthen controls around approvals and authority limits to help prevent fraud, so you don’t have to worry about it. No more guessing at messy signatures or subjecting yourself to Phishing attacks.
3. Speed up the accounting close
AP genie integrates with your accounting system to feed the accounting entries directly into your GL for the bills you receive and expense reports you process. In addition to saving you from the manual data entry (see #1), this also allows you to speed up your accounting close. But what about the items that are in the AP genie system but aren’t approved or booked yet? AP genie has that covered too with our accrual report – delivering you an entry to book that looks at all the open invoices that aren’t posted yet.
4. Scale your operations
AP genie allows you to do more with less (or do more with the same) resources. This means that as your business grows, you won’t need to add resources at the same pace as your growth. Leverage the AP system to provide stability and bandwidth while your overall business scales up.
5. Elevate your team’s status
Being busy is good, but being busy and looking smart is even better. Deploying AP genie for your accounts payable team will make you look like a forward-thinking leader that wants to leverage technology to make your group more successful. Don’t get stuck in the data-entry dark ages. Take your team to the next level.
6. Make audits easy
Let’s face it – audits aren’t sexy. Try bringing up your latest audit at your next dinner party and see what kind of reaction you get. That’s why you need to let AP genie take care of some of your audit workload and get you through the audit as quick as possible. AP genie’s audit reports are designed to show the auditors the step-by-step proof that an invoice was received, approved and accounted for properly. Goodbye audit. Now you’ll have to think about something else to talk about at that dinner party.
So, if your accounting team is stressed out, try AP genie today. It’s easy to sign up and we have a 30-day no risk (no credit card required) free trial. Sign up today!