Benefits of Moving From Paper Invoices to AP Automation
When you run a restaurant, you may get so caught up in the day-to-day tasks at the front. You neglect all the paperwork and other processes that have to be handled at the back office. This can lead to a wide array of issues, from inaccurate invoicing, improper supplies, late payments and more. If this is combined with a manual accounting process, you may find your entire restaurant in disarray after just a few months.
Today, thanks to innovative technology, there are few things that can’t be done online and automatically. Unfortunately, if you are one of the 58 percent of businesses still handling accounting and invoicing manually, you are likely wasting time and losing profits.
The High Cost of Manual Processing
According to a report from the Aberdeen Group, the average cost to process an invoice manually is $16.33. While that may not seem like much, consider how many invoices your restaurant has to process daily. You have drink and food invoices, invoices for supplies, linen cleaning, maintenance products and more. As you can see, the costs add up quickly.
If you are like most restaurant owners, you may want to find a solution for this, but be hesitant to implement or invest in new services, due to not really understanding how the automation process works. Learn more about how automation for your restaurant invoicing process can be beneficial and how it may even help you save money, here.
Save Money and Time with the Help of AP Automation
If your restaurant is still entering invoices the “old-fashioned” way, then it is time to take advantage of the technology that is available today and begin automating AP. Some of the features your restaurant can enjoy when you implement this process include:
- Accept the electronic submission of invoices from your suppliers in several forms. This means you can accept PDFs that are sent through email, an electronic file that is manually uploaded to a website, or that is automatically transferred from one server to another, or even invoices that have been manually keyed in by your suppliers via your online portal.
- Automation of the three-way-match process. When you use this automation, you can ensure that each invoice is automatically matched to the proper PO and to the receipt (if applicable).
- Approval of workflows. With workflows, any invoices for your restaurant that don’t have a corresponding PO can be easily verified and then approved. A huge advantage of the workflows is that they will give you an excellent audit trail.
How GetSourcery Can Help with AP Automation
If you are tired of having to deal with the tedious process of manually handling all your invoices for your restaurant, then it is time to consider utilizing an automated system. When you are searching for a service provider, you will find there are several options; however, GetSourcery.com has perfected this process, ensuring exceptional results for small, mid-sized or large restaurant businesses.
This software can help you save time while increasing accuracy. Thanks to features such as digital invoicing, which is searchable, as well as the one-click vendor pay option, you will find that your invoicing is now simple. Now you can focus on other parts of your restaurant business. To learn more about what GetSourcery has to offer, visit the website.