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Why automating your accounts payable will help your Roof Tiling business?

August 29, 2018
Loc8 Insights Why automating your accounts payable will help your Roof Tiling business?

As we move to a predominantly digital world, various procedures within Roof Tiling businesses need to be automated, an important one being the accounts payable process.

Especially for roof tiling companies that deal with numerous customers invoices, expense reports and vendor bills daily, the automation of the accounts payable process can be critical to avoid defaults and for general expense management.

Accounts payable is essentially a short-term debt payment made to avoid default. By using smart software to understand the cash flow and keep a track of all the short-term payments, your roof tiling business can equip itself with the necessary tools for success.

Precision

Every process that involves a human being entering data is susceptible to errors. This is not a new concept and is an expected side effect of working in a high-pressure environment like an accounts payable department. The process becomes even more difficult when you’re looking at hundreds of entries manually and looking for mistakes. It’s like looking for a needle in a haystack, and no one person should be responsible for this. By automating accounts payable, the software can be tweaked in a way to recognise errors and easily rectify them.

Productivity

The process of accounts payable involves hours of entering digits in front of a screen. This is a monotonous process that can often lead to mistakes or even mental burn-out which dramatically impacts the efficiency of your Accounting staff. By automating the accounts payable process, you negate the human error, resulting in flawless reports. This also frees up the personnel involved in the department to now use their skills in a more analytical role to increase cash flow or cut down costs for the company.

Keeping A Record

Nobody likes to follow a paper trail. It gets messy and chances of missing an important deadline increase tenfold. Especially in your Roof Tiling business, where you’re dealing with multiple clients and vendors subsequently, following the paper trail from different sources can be cumbersome. Digitising the whole accounts payable process helps create a digital trail that people can follow. Meticulous classification and careful record filing become extremely easy for anyone to pick up any information from a given date and assess the situation at hand.

Streamlining the Process

The whole ordeal of accounts payable automation is to streamline the procedure of making payments that can cause defaults. You might be sourcing your material from different vendors, which can make keeping a track of multiple physical receipts extremely taxing. By automating the whole process through the use of smart software tools, it becomes extremely easy to track all the avenues through which cash flows in and out of the company. Another advantage of automating accounts payable is chasing down missing information about your business becomes obsolete. With just a few clicks, you can rectify the mistake and move on.

These are a few reasons why automating your accounts payable can be highly important to your Roof Tiling business. There are plenty of software available with a free trial version that you can try out before deciding to invest in one. Carefully test and assess what works for you and which software is offering features that are advantageous to your business and needs.

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