26 Jul How to Stop Getting Fired by Your AP Processors
Have you watched multiple accounts payable (AP) processors walk out the door to “seek new opportunities” or “find a change of scenery”? When they told you they “enjoyed working with you,” did they really mean it, or were they just taking the high road?
High turnover rates cost businesses hundreds of thousands of dollars each year. Turnover is particularly pervasive in AP departments, where many companies struggle to establish effective procedures. When an AP processor resigns, there is a good chance you – the boss – were essentially fired. If that worker was happy within your organization, they would have likely stayed in their comfort zone.
When an AP processor walks out, use it as a chance to uncover systemic issues within the department. By improving procedures, you can give employees more opportunities for growth and job fulfillment.
Why do they leave?
We’ll assume you treat your employees humanely and that you haven’t placed the accounts payable department in a dark, dank basement while other departments have sunny corner office views. And those leaving probably aren’t fetching a dramatically higher salary, either. The truth is that some combination of culture, systems, and support in your AP department are faltering. They could very well like you as a boss but hate the way your AP department operates.
Shifting your resources
Turnover happens, even in the most desirable of workplaces. When an AP processor leaves, you shouldn’t feel like Scrooge McDuck rolling around in a pile of newfound money. You also shouldn’t press the panic button and make a rapid hire to fill the role. Perhaps it’s time to think about how to make the AP department more functional for the accounting staff you have. Automation is a great place to invest that windfall.
Automating saves money and improves morale
You can do a better job of retaining your accounting staff while also closing the revolving door of data entry positions such as the AP processor simply by automating your systems.
If they haven’t mentioned it already, your AP staff would like an opportunity to grow within your company. Old-fashioned paper pushing doesn’t give them a chance to feel fulfilled or gain new skills, in which case they dash for another (probably identical) position, and everyone loses.
AP automation can save your business time, money, and heartache by reducing turnover and keeping your people happy. Help your accounting team help you, and contact V3 to learn more about AP automation solutions.