Practical Steps for Maximizing Your AP Throughput
Leaders Learn to Maximize Their Human Capital in Accounts Payable Practical Steps for Maximizing Your AP Throughput Share on facebook Share on twitter Share on
Leaders Learn to Maximize
Their Human Capital in Accounts Payable
- By Mark Buckley
- June 21, 2021
- Accounting and Finance, CloudOCR
- No Comments
Many businesses talk about automation in AP and the statistics around reduced time and financial benefits. However, there are several leaders of AP departments who have made it through the transition to automated capture of information through OCR that have discovered one indisputable fact – Their people are providing more value to the business than they ever imagined.
Everyone has felt this at one point in their life. You are working so hard on doing your job and the work keeps coming in and piling up. Expectations keep rising, resources keep getting pulled away to assist the business grow and become more efficient. We do not realize the fact that we are losing that special part of us that can think and be creative in how we as human beings can improve our situation.
Businesses that have deployed CloudOCR have experienced within a few days a new paradigm that there is now time to process the exceptions, perform cash management, respond to vendors, and develop relationships that matter, and maximize their personal contribution to the business. Job satisfaction is almost a given because the employees that have been buried in the trenches for so long are now able to shine.
CloudOCR creates the opportunity to save in transactional costs of getting the data captured, but it also provides significant revenue opportunities for the business.
People who are provided the platform to rise to the occasion often will. Just imagine the benefit that your company could see by being able to manage cash better. Have all liabilities in the system, transparent, and ready to role within a few hours of the invoice arriving hours. Your staff will be able to get busy immediately on exception handling, vendor management, managing discount strategies, and so much that was out of reach before.
CloudOCR creates the opportunity to save in transactional costs of getting the data captured, but it also provides significant revenue opportunities for the business. Let us assume that we simply take away the data entry for a 4-person team and that the team was able to spend a full 8-hour day processing exceptions, managing discounts, supporting purchasing, and cash management activities.In our experience the upside of that time commitment to those activities far exceeds the cost savings of the data entry.
Many college professors call this opportunity cost, soft costs, etc. that are eliminated, and it simply demonstrates how backwards measurements that justify projects can be. Isn’t the ability to create revenue, improve performance, and overall job satisfaction a much more motivating argument?
When we maximize the human potential of our staff and focus on what matters, its really amazing what can happen.
Job satisfaction is almost a given because the employees that have been buried in the trenches for so long are now able to shine.
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Leaders learn to Maximize their human capital in Accounts Payable
Leaders Learn to Maximize Their Human Capital in Accounts Payable Many businesses talk about automation in AP and the statistics around reduced time and financial
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Mark Buckley
President of REQUORDIT & CloudOCR. He has been an entrepreneur for more than 20 years in the business process automation space. Mark founded REQUORDIT in 1997 and has helped hundreds of companies automate and digitize their business.
Practical Steps for Maximizing Your AP Throughput
Leaders Learn to Maximize Their Human Capital in Accounts Payable Practical Steps for Maximizing Your AP Throughput Share on facebook Share on twitter Share on
Leaders learn to Maximize their human capital in Accounts Payable
Leaders Learn to Maximize Their Human Capital in Accounts Payable Many businesses talk about automation in AP and the statistics around reduced time and financial
Leaders Learn to Maximize their
Human Capital in Accounts Payable
- By Mark Buckley
- June 21, 2021
- Accounting and Finance, CloudOCR
Many businesses talk about automation in AP and the statistics around reduced time and financial benefits. However, there are several leaders of AP departments who have made it through the transition to automated capture of information through OCR that have discovered one indisputable fact – Their people are providing more value to the business than they ever imagined.
Everyone has felt this at one point in their life. You are working so hard on doing your job and the work keeps coming in and piling up. Expectations keep rising, resources keep getting pulled away to assist the business grow and become more efficient. We do not realize the fact that we are losing that special part of us that can think and be creative in how we as human beings can improve our situation.
Businesses that have deployed CloudOCR have experienced within a few days a new paradigm that there is now time to process the exceptions, perform cash management, respond to vendors, and develop relationships that matter, and maximize their personal contribution to the business. Job satisfaction is almost a given because the employees that have been buried in the trenches for so long are now able to shine.
CloudOCR creates the opportunity to save in transactional costs of getting the data captured, but it also provides significant revenue opportunities for the business.
People who are provided the platform to rise to the occasion often will. Just imagine the benefit that your company could see by being able to manage cash better. Have all liabilities in the system, transparent, and ready to role within a few hours of the invoice arriving hours. Your staff will be able to get busy immediately on exception handling, vendor management, managing discount strategies, and so much that was out of reach before.
CloudOCR creates the opportunity to save in transactional costs of getting the data captured, but it also provides significant revenue opportunities for the business. Let us assume that we simply take away the data entry for a 4-person team and that the team was able to spend a full 8-hour day processing exceptions, managing discounts, supporting purchasing, and cash management activities. In our experience the upside of that time commitment to those activities far exceeds the cost savings of the data entry.
Job satisfaction is almost a given because the employees that have been buried in the trenches for so long are now able to shine.
Many college professors call this opportunity cost, soft costs, etc. that are eliminated, and it simply demonstrates how backwards measurements that justify projects can be. Isn’t the ability to create revenue, improve performance, and overall job satisfaction a much more motivating argument?
When we maximize the human potential of our staff and focus on what matters, it’s really amazing what can happen.
Mark Buckley
President of REQUORDIT & CloudOCR. He has been an entrepreneur for more than 20 years in the business process automation space. Mark founded REQUORDIT in 1997 and has helped hundreds of companies automate and digitize their business.
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