Follow-Paperless Policy:
In these days paper invoices/documents are already outdated. As the paper documents can absorb 30% of employees work time, Cloud based digital documents provides you best efficiency on accessing the accounts payable related documents from anywhere.
Avoiding duplicates:
Invoice Duplication might occur due to the vendor's followups on same invoices through multiple medium in their enthusiasm to be paid. Early capture of invoice/vendor number will avoid the rework on discovering the duplicate/discarded invoices in future.
Immediate Feedback to the Vendors:
In order to improve the vendor experience, timely communication with vendors at appropriate stages decreases vendor queries and invoice duplication
Avoid underestimating AP Processes:
It seems little trickier that it seems at first. Some of the unexpected things with purchase orders like:
i) Multiple Purchase order numbers on a single invoice.
ii) Partial deliveries wherever the Purchase order number could (or) might not be received once more from the seller
iii) Standing purchase order number which are used many times for an indefinite final amount
iv) Invoices to get paid such as consignment stock invoices without purchase order number.
Assess your Accounts payable:
Analyze when the most spending occurs for your business and what categories of spending are getting varied each month. When do you rely the most on your vendor's supply. Your suppliers expects you to be proactive whenever the payment delays from its regular schedule. Thus, maintain good relationship with your suppliers and thank your suppliers for their flexibility and remind them about prompt payments.
