With back-to-school and holidays right around the corner, major retailers and franchises must prepare themselves for the uptick in sales and transactions. With an increase in sales, the master franchise accounting department has to quickly process and analyze thousands of paper invoices coming from hundreds of different locations. This can lead to delays in productivity and also create a strain on the AP/AR departments, which retailers cannot afford during a high demand season. Further, retailers that depend on paper invoices do not have full visibility into cash flow when there are likely hundreds of invoices sitting on desks of store managers.
In a recent article on Solution Providers for Retail, Metafile’s Nick Sprau discusses some of the challenges that master franchises face when dealing with thousands of invoices in paper form. From lost invoices to a lack of visibility, the article showcases technologies exist to ease the burden on the accounting department. With AP/AR automation, franchises can quickly capture, analyze and react to data, increasing visibility into cash flow and the invoice process and positioning them for success.
Check out the article here and if you’re a retailer, feel free to leave some comments on how you’re preparing for the holidays with AP automation.