As a controller of a small-to-medium-sized company, you have a wide range of responsibilities that support business decisions that will direct the organization toward sustainable financial health.
These critical duties include budgeting, financial reporting, investing, and risk management. In a larger company, a CFO might handle the financial decision-making, but controllers still have responsibilities that can impact the company’s profitability.
No matter what size company you’re with, in all cases, you’ll be involved in overseeing the accounts payable (AP) department, even though you may not be directly participating in the invoice approval process.
However, the efficiency of your AP department directly affects how you work, and manual invoice processing inefficiencies can create many gaps that need closing so you can carry out your duties with confidence.
This is where automated AP systems come into play. They help make daily functions easier while building profits for your company.
Daily realities for controllers before AP automation
In the years prior to the rise of AP automation, controllers spent too much time on tasks that can be easily streamlined using modern technology. These daily tasks include:
- Requesting and waiting for paper invoice copies for general ledger (GL) reconciliation
- Manually compiling month-end reports based on data that may be inaccurate or outdated
- Guessing at indirect spending with no real-time visibility into the company’s current financial picture
- Playing catch-up on accruals generated by other departments before you can generate financial reports
- Attending meetings only after budget-impacting decisions—based on inaccurate data—have already been made.
Controllers face enough challenges fulfilling their roles without being hamstrung by paper-based invoice processing systems, which make everything harder. AP automation optimizes the entire invoice approval system, significantly improving operations and making the controller’s life much simpler.
What AP automation changes for controllers
AP automation completely transforms AP invoice processing with customizable technology that supports the controller’s need for accurate, real-time information to fulfill their tasks confidently.
For example, automated systems provide controllers with real-time control over their AP department without micromanaging or continually asking financial teams for backup and verification of invoices and payments.
Controllers can instantly generate accrual and GL backup reports and eliminate delays in invoice access and data validation, fostering faster, more accurate month-end closes. They can also track budgets against real-time AP activity or monitor live transactions and invoice approvals by simply logging into the secure system from anywhere with a WiFi connection.
As a controller, you may not want to be involved with every detail of the invoice approval process. The technology within the automated systems allows you to define when and how you’re looped into spending approvals to avoid unnecessary information and communications.
All in all, AP automation is the perfect solution, providing visibility that allows controllers to access the real-time data they need to help their organization make better business decisions and contribute to its long-term sustainable success.
Using automated AP technology to optimize your role as a controller is easy with the right technology partner by your side. For a growing number of corporate financial leaders, Ash Conversions International is the premier solution provider of choice.
Why controllers choose ACI’s AP Assistant™
More and more Canadian controllers are turning to ACI for automated AP solutions that will streamline their operations, improve efficiency, and optimize their daily duties. No matter the size of the operation or the volume of invoices processed, ACI has a solution that fits.
Our systems provide full AP automation without the need for additional IT investments. ACI technology seamlessly integrates with your legacy ERP systems across your locations and infrastructure for a real-time view of your entire company’s current financial picture.
We offer two products that are fully customizable to your needs: APA Lite™ for SMEs and AP Assistant™ for larger organizations. Each package provides the technology required to fully transform your paper-driven invoice processing system into a powerful tool that will bring your organization a whole host of benefits, including:
- Elimination of 99 percent of manual data entry, mitigating the risk of errors that can lead to delayed payments and time-consuming audits
- 80 – 90 percent of invoices processed touch-free, streamlining the approval system through secure online access
- 100 percent invoice visibility in real-time, supporting your need for accurate, real-time data and efficient cash management
- 60 – 80 percent drop in supplier inquiries about late payments, protecting hard-won supplier relationships
- Significant reduction in AP processing costs that add up to bigger, more sustainable profits for your company
When you’re ready to enjoy the full suite of benefits that automation can bring to your AP department, give the experts at ACI a call.
Take control over your AP processes with an automated accounts payable solution from Ash Conversions International
You already carry your company’s financial responsibility. Thanks to automated AP technology from ACI, it’s time to join the legion of controllers who have the access and control to match.
For over 40 years, we’ve helped controllers from across the industrial spectrum optimize their AP processes to help them manage their daily operations and bring their companies closer to reaching their business goals. Our expert team is with you every step of the way during the design, installation, and implementation phases of your new system and provides aftercare support so you enjoy an optimal experience using our products.
For more information on how your company can benefit from a digital AP processing system, book a demo by calling us at 1-800-719-9621 or by clicking the button below.
