Your company needs to have an accounts payable department disaster recovery plan.
One of the biggest lessons that 2020 taught every business professional is the critical importance of disaster recovery and business continuity plans.
Those who do not learn the Processing Accounts Payable Lessons From COVID-19 are doomed to repeat them.
How AP Departments Can Prepare for Future Disasters
The most important thing you can do to prepare your AP department for future disasters is to create an environment where remote work is not only possible, but second nature.
To do this, any business continuity or disaster recovery plan should include moving business processes to the cloud. For example, Microsoft Azure provides the infrastructure and support to access your business processes from anywhere in the world. Our AP automation solutions can be deployed in the Azure cloud, making them a key piece of your future disaster business continuity plan.
Of course, operating in the cloud requires digitizing all of your business documents. If your company is still processing paper invoices, your disaster recovery plan must include a digital transformation. But disaster recovery is just one reason to digitize your AP process.
If you implement your accounts payable department disaster recovery plan and AP automation correctly, you’ll also save time and money while improving employee morale and tax/audit compliance.
So what should you do to prepare your AP department for future disasters? Read on!
Protect Your AP Department from Future Disasters
To digitize your AP process in the cloud, you should align your AP department to accounts payable automation best practices.
Here are 8 specific steps you should take to do so:
1. Replace or Supplement Optical Character Recognition (OCR) Technology with Verified AP Data Capture Service – Click Here for More Details
2. Implement Robotic Process Automation (RPA) Technology – Click Here for More Details
3. Implement payment automation for no-touch payments that can earn a rebate for every invoice paid – Click Here for More Details
4. Combine Verified AP Data Capture with RPA and Payment Automation for Fully Automated Procure to Pay Processing – Click Here for More Details
5. Implement AP Automation That Allows Work From Home – Click Here for More Details
6. Know the Difference Between Cost Savings and ROI – Click Here for More Details
7. Maximize AP Automation ROI – Click Here for More Details
8. Choose an Accounts Payable Software Provider Carefully – Click Here for More Details
Follow these accounts payable department disaster recovery recommendations and your AP department will not only be prepared for the next disaster, you will be amazed at how much time and money it will save your company.
In fact, following these AP disaster recovery steps will save you so much time and money that you can avoid hiring additional AP staff – or even reduce headcount.
Have any questions? We’d be happy to help.