Accounts Payable (AP) Learning Module

What You'll Learn:

All businesses have to pay invoices and, according to the Institute for Finance & Management (IOFM), the average organization receives at least 14,400 invoices every year at a processing cost of $11.76 per invoice. Invoices arrive in many different page layouts, paper forms, and file formats, making it costly and time consuming for Accounts Payable (AP) departments to process every invoice they receive. A System of Record provides AP departments a place to securely and consistently manage invoices, no matter the format, and enables process automation to eliminate tedious manual data entry and further reduce invoice processing times. Watch the Getting "Bringing Intelligence to your Accounts Payable Automation" video to learn about an AP system of record and how it can help streamline your processes.

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Bringing Intelligence to your Accounts Payable Automation

Have you have considered automating your AP processes in the past, or are you currently examining options for "going digital?" It's a common goal! The Institute for Finance and Management (IOFM) reports that between 70 and 80% of invoices in the United States are still paper-based, and about 70% of invoice processing costs are related to document handling and manual data entry. This presentation will outline goals, processes, and guidelines for AP automation in any sized business.

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Before You Start:

Read through the following materials to familiarize yourself with common AP processes and how AP departments are starting to automate repetitive processes.

AP Reading List

Practice What You Know:

In this activity, you will circle index values that your organization would use when automating AP processes.

AP Indexing Activity

Next Steps:

Now that you're familiar with automating AP processes, quiz your knowledge!

AP Crossword Puzzle