Even though it’s 2021, some of the challenges still facing accounts payable departments are problems that have been plaguing them for decades. In a 2019 AFP Electronic Payments Survey by JPMorgan, they found that companies still make 42 percent of business customer payments by check. Ardent Partners also estimates that about half of all invoices are still sent to the receiver manually, often resulting in missing payments, delays, and errors. In addition to these challenges, NetSuite highlighted eight AP challenges. Here’s what they found:
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Dynamics 365 for Finance and Operations offers an ERP tool set that provides intelligent technology and scalability that will allow your organization to grow at its own pace. Pair it with another powerful tool in your technology toolbox (*cough* MetaViewer Paperless Automation *cough*) and you have a fix-all solution to all your manual and paper-burdened processes.