Accounts Payable teams in most companies spend 30-40% of their time processing routine, repetitive and cyclical payments such as rents, mobile, electricity, and other utility bills. In this day and age of hyper automation it is a shame that simple but voluminous operations such as cost centre allocations, accounting entries, and bank transfers are using up A/P team manhours.
Accounts Payable teams in most companies spend 30-40% of their time processing routine, repetitive and cyclical payments such as rents, mobile, electricity, and other utility bills. In this day and age of hyper automation it is a shame that simple but voluminous operations such as cost centre allocations, accounting entries, and bank transfers are using up A/P team manhours.
It really doesn’t make any sense to use the human mind to manage and process the huge numbers of weekly, monthly, quarterly, and annual payments that all organizations have to service. All parameters are known in advance - who the biller is, what their tax registration number is, when the bills are payable. In cases like rent, the amount to be paid is also fixed and escalation dates and amounts are known. In cases like utility bills, the amounts vary but bills can be pulled in automatically from most major billers.
It’s a great efficiency leap when hundreds of recurring invoices are processed, accounted for, and paid with almost no human interference. Organizations are compelled to operate with this level of efficiency in today’s cost sensitive environment. Consider also, the quality of information and dashboards now available to Finance Controllers. With virtually every recurring liability captured on the Expenzing Recurring Expenses & Rent Manager, our smart dashboards offer the data to compare spends across business units and branches as well as trend analysis. Armed with this data, management can trim waste that was hitherto invisible. And most critically, companies can negotiate bulk discounts with national utility providers. That’s the power of information.
It really doesn’t make any sense to use the human mind to manage and process the huge numbers of weekly, monthly, quarterly, and annual payments that all organizations have to service. All parameters are known in advance - who the biller is, what their tax registration number is, when the bills are payable. In cases like rent, the amount to be paid is also fixed and escalation dates and amounts are known. In cases like utility bills, the amounts vary but bills can be pulled in automatically from most major billers.
It’s a great efficiency leap when hundreds of recurring invoices are processed, accounted for, and paid with almost no human interference. Organizations are compelled to operate with this level of efficiency in today’s cost sensitive environment. Consider also, the quality of information and dashboards now available to Finance Controllers. With virtually every recurring liability captured on the Expenzing Recurring Expenses & Rent Manager, our smart dashboards offer the data to compare spends across business units and branches as well as trend analysis. Armed with this data, management can trim waste that was hitherto invisible. And most critically, companies can negotiate bulk discounts with national utility providers. That’s the power of information.
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