28 Jun Poor Process Visibility Helps Your Fitbit But Hurts Your Business
Are you constantly looking for new ways to add steps to your Fitbit? Sure, we all are, but the office is not the place to do it. Poor process visibility is adding unnecessary steps–not just figurative ones, but literal ones–to your accounting. As much as we could all use a little less time off our butts during the workday, getting your invoices paid should not be a physical activity.
Poor process visibility has been an issue for companies for the past decade. In fact, odds are that you are working in a company that has this very struggle. Statistics show that up to 90 percent of businesses are still using a paper trail rather than digitizing their accounts payable.
With invoices constantly coming in and checks going out, everyone is drowning in paperwork while–ironically–having difficulty finding the specific paperwork they need. This is especially true in successful businesses that have a large and growing customer base.
Let the Cloud Automate Your Process
In addition to wandering around the office, there’s the waiting game. So and so is at lunch, such and such company owes us a payment but they haven’t emailed back yet, etc. Unlike the way reaching a certain amount of steps on your Fitbit can bring a sense of completion to the day, no number of steps back and forth to the AP department will get those invoices paid.
It’s gotten to the point where businesses cannot afford not to solve the issue of poor process visibility. Perhaps you’ve even tried to solve the issue yourself by re-delegating and/or tweaking the process. The problem with that approach is that every time your company signs a new client, you’re back to square one – wandering around the office. The same goes whenever payment information or one of the many other variables in AP is changed.
Automating Ensures Quality Control
In addition to saving steps and time, when you work with a company like V3 to set up a digital, automated process, you’re more likely to get invoices paid on time. And in the interim, you have peace of mind because you always know where they are and exactly who owes what.
If you really want to add steps while you’re at work, step in place while you’re working! It’s more fun to find what you’re looking for, know that invoices are steadily being paid, and get your steps in without the search.
Here’s another idea: with all the time and money you’ll be saving by improving your process visibility, you may even have time to take a walk outside every now and then and get some fresh ideas on how to grow your business!
When it comes to process visibility, V3 can get you stepping in a better direction. Contact us to learn more about our AP automation solutions.