Which best practices should my company focus on?

With Comply you can use technology and process automation to simplify your Accounts Payable workflows and achieve greater efficiency.

• Limit authorization to only those people who should have access to the highest level files and prioritize necessary payments to ensure you are taking advantage of the best conditions and rates.
• It is advisable not to pay invoices immediately but to apply procedural logic with respect to payment deadlines so you can directly control your cashflows.
  
• Technology helps you better analyse each situation and ensures there is less room for human error.
• Comply helps you avoid potential fraud at any stage of the AP process by identifying and reporting anomalies, inconsistencies, or discrepancies in real time.
• By ensuring that roles are appropriately allocated you can eliminate unnecessary work and only have to monitor KPIs and approve payments.
• Regularly review data to reconcile accounts, and perform recurring checks to eliminate duplicate payments, identify over- or under-payments, and reduce audit stress.
• Quickly identify opportunities to consolidate suppliers, save costs per invoice or supplier, or negotiate better prices or discounts.
• Eliminate paper-based procedures and record-keeping to generate substantial savings in office space, archival storage and unproductive use of personnel.
• Eliminate unresolved dispute cases and safeguard supplier relationships.