If you have ever owned or managed a business you are likely already well aware of the many problems that can arise when it comes to dealing with the accounts payable department. So you can feel a little more confident handling the day-to-day aspects of your company, we have gathered this short list of the 3 most common accounts payable fears and pains – and how you should go about solving them.
Accounts Payable Fears and Pains: The Known Villains
Let’s face it. Things get lost around the office, especially right before you need them. If you have been having a problem with missing invoices, you may want to look at going digital once and for all. Eliminating paper files or documents and instead of accumulating boxes and boxes of year old invoices, using a digital platform! This can greatly help keep both you and your team organized and always ready to go.
No Available Funds for New Employees
When your business is growing at a steady pace, it’s of course easy to assume that you will need to add more employees to keep up with the purchase orders and the growth rhythm – but this is not always that feasible for young companies. Often times, it might just be best to do with the staff that you currently have instead of forking over the money to hire a new addition to the team.
Have you ever accidentally processed an invoice twice because you weren’t able to tell if it had yet been processed by someone else? Well, you’re not alone. This is actually fairly common and can be avoided by maintaining a bit of organization around the office or using a unique accounting software that keeps everything organized for you.
There’s no need to be afraid of these villains or, as we’ve put them, the most common accounts payable fears and the problems that may come along with dealing with them. Instead, use these tips to help you overcome those fears and complications in order to take your business to the next level of success.
Manage your Accounts Payable with Pipefy!
Pipefy can be a powerful ally when fighting these – and many other – Accounts Payable bad guys!
Pipefy’s Free Accounts Payable Template allows your company to have a centralized and integrated channel for all your payment requests – make your financial department’s life a lot easier with this simple to use, intuitive template.