Starting a business is a big decision, and so are the decisions that follow to keep the business afloat and grow. All the decisions you take collectively decide the subsequent route of the enterprise and approach to garner revenue. It is paramount to understand that you are nurturing a dream of many, not of yours alone. The decisions you make in growing and deriving profit directly impact the people associated with your business, which applies to choosing the right AP automation software.
You are not integrating any software; rather, you are delegating a solution that empowers your AP team and spares them from the burden of the tedious and relatively slow work process. With the right AP automation software, you are powering your workforce to delve deeper into strategizing and bringing the profit benefits, which otherwise get diluted while managing the numerous papers and follow-up calls.
Your AP team is juggling many tasks simultaneously- invoice processing, invoice management, approvals, interacting with the clients, following up on the payments, documenting the process, keeping an eye on payment discounts, and so much more. Therefore, you can't choose without evaluating whether the AP automation is in accord with your business and team's requirements.
But how do you know the AP automation software is right for your business- Skyscend brings you the answer.
·Begin with mapping your current AP system
It is imperative to understand and map your current AP process and the workflow to integrate a tech-based substitute, the AP automation software. Also, before offering a solution, a reputable service partner like that Skyscend would ask comprehensive questions like the ones below to acquire a complete knowledge of your genuine needs.
What is your invoice-receiving procedure? What is the total amount of invoices you send out each year? How many persons are involved in your AP process from start to finish? How many persons require access to your invoices that have been archived? What is the format of your invoices (paper, EDI, email, etc.)?
The list of questions does not limit what is mentioned above but goes on quite long. So, evaluate the right AP automation software, evaluate your current process, have an elaborate discussion with the team, and chart out the loopholes you would like to overcome with the advanced integration.
· Is the AP automation compatible with your business size?
Are you big enough or too small to be compatible with the AP automation solution? A significant point to ponder because not all solution providers are flexible with the size of the enterprise. If you are a small business, remember that you will grow with time; therefore, ensure that the automation solution you are adopting should be able to accommodate the growth in the future.
Also, many AP automation solution providers have a bar on the company size, which might not be supportive to small businesses with all the advanced features. However, Skyscend's AP automation solution complies with any business, big and small, and adds uniform value irrespective of the size.
Despite the enterprise size, you are investing in a solution that is supposed to incur growth and profit. Is the solution streamlined enough to deal with a large magnitude of invoice processing and invoice management? Can the automation process deal with the deadlines efficiently if the number of payments and invoice processing is higher? Therefore, understand the structure of the AP automation solution, and stress the angles where your AP team should be benefitted.
· Client assistance and service
The account payable process has undergone a three sixty-degree transformation in the digital era. With the introduction of blockchain, AI, OCR, cloud, mobile applications, etc., the process has changed seamlessly. However, the technology is still very much developing, and the experts in this field are trying to find new ways to make the process concise and even more efficient than what it stands now.
This calls for excellent customer support. Hence, while choosing the AP automation software for your business, acquire the clarity from the service provider on how far they offer their support in integrating the solution and maintaining it. Evaluate and research the customer response activities, just like you scrutinize all your business plans.
Do they provide the training or instruction manual? How long they support you during the initial integration etc., should be the detrimental question when partnering with an AP automation solution provider.
Skyscend, for example, keeps customer service and assistance on top priority right from the beginning. We understand the value of your business and your team's efforts, and the diplomatic trade relation that depends heavily on the smooth functioning of the AP process.
We start with a detailed demo (which the businesses can request), then we further discuss what is expected from the client and consistently keep supporting them after onboarding.
So, if you feel Skyscend is the right fit for your AP automation requirement, get in touch with us.