When it comes to accounts payable, time is literally money! The right automation solution can save money, time, and resources. Plus, maintaining compliance is easier and more precise, and you’ll streamline workflows as you digitally transform your business.

Here are six ways that Digital Transformation with hubTGI will make your Accounts Payable (AP) a breeze!

  1. Reduce Human Involvement With technologies such as Optical Character Recognition, Machine Learning, and Artificial Intelligence, coupled with a connector to your backend accounting or ERP software. Digital Transformation can eliminate data entry, invoice validation and streamline GL Coding and the approval process. Automation removes mundane tasks and mitigates human error from the AP process.
  2. Never Miss Early Pay Discounts Again – Many companies miss vendor discounts because they lack a workflow that consistently identifies, flags, and processes invoices in the required time to receive the discount. With an automation platform powered by AI and Machine Learning, you can automate the process so you’ll never miss early pay discounts again!
  3. Easy Access to Information – An ECM Solution offers easy access to the data your employees need to do their jobs. Scanning documents into your system makes them searchable by keywords, dates, or amounts, making finding, sharing, editing, and approving documents a breeze!
  4. Maintaining Compliance – If you’re in an industry that must maintain and meet compliance laws, document management can make the compliance process more manageable. With an ECM solution, you’ll be able to create an audit trail, red-flag suspicious or unauthorized changes to data, index documents for search, and automate document capture.
  5. Increase Visibility and Process Oversight – Visibility and oversight of workflows and processes are essential to AP efficiency. An ECM system can keep track of documents, where they go, and their status. In fact, an ECM solution makes it easier than ever to review, approve and process documents with proper oversight.
  6. Leverage Your AP Resources – With the knowledge gained from increased visibility and an ECM solution, your team can make better forecasts and analyze your data to make more informed and strategic decisions regarding managing cash flow and allocating resources. They’ll spend less time processing data and free up more time to focus on critical initiatives like growing your business!

Digital Transformation can help your business gain a strategic advantage over your competitors. Are you ready to learn more? Give your hubTGI representative a call, and let us show you the benefits of going digital!

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