AP AR Automation

I am taking on the responsiblity to mondernise and simplify the AR and AP process for for business with $100m in revenues. I am considering moving the check processing to lockbox and get a BIA2 file from our bank that will integrate with our accounting software. On the payables side we have a large number of freight invoices and storage invoices for products we distribute - finding a solution for automating / outsourcing this process seems a lot more complicated. All processes are outdated, but i am starting wit these. Can any one share their experience with changes such as this, suggest good service providers or have any good advise on outsouring these repatitive tasks? thanks in advance for any input!

Answers

Melissa Kulesz Business Development • June 4, 2014

I think the first question you need to answer is whether you want to tackle this as a "line of business" solution or a business automation solution (that can be expanded upon later to other departments). Are you looking to utilize your accounting software or perhaps content management software that can integrate with your accounting software? I'd suggest looking at companies who provide services (business process improvement/automation, lock box services, etc.) not just software - someone who can help you look at the big picture (act as consultant, not just a salesman) and help with a future road map, so to speak.

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