Retail is not like other industries. Between changing seasons, upcoming trends, and fluctuating demands, retail organizations are constantly changing, with an extremely fast-moving supply chain. Not to mention a now highly competitive online market- why go to a store to buy something when you could do it from home? All this and more creates high demand for fast processes and cost reduction, yet many continue working with paper invoices. AP departments can be an easy place for something to get lost or misplaced, but it’s the last place you want it to happen. This is especially true in retail where goods and services are being received and sent out almost constantly. Lost invoices, purchase orders, and receipts only serve to decrease productivity and increase stress levels.
Fortunately, just as the retail industry continues progressing, so does the technology available to Accounts Payable departments. iPayables is the leading provider of AP automated solutions, tailored for mid to large Accounts Payable departments. While some aspects of a company, or even an AP department, may already be automated, many companies could save a lot of time and money by completely automating their AP departments. Not only does automation eliminate problems such as lost or duplicate invoices, it also increases the efficiency of the company. Plus, iPayables’ solution allows both the AP department and vendor to see the status of the invoice, as well as giving the option of dynamic (or early pay) discounting.