Cloud Collaboration for Accounts Payable: Taking AP Automation to the Next Level

Increased efficiency within a firm is often achieved with the use of Enterprise Resource Planning (ERP) systems, such as Oracle E-Business Suite, as well as Enterprise Content Management (ECM) systems, to aid in the storage and access of content in a more efficient manner.  Even with such systems in place, however, companies often view Accounts Payable processes as separate silos of work and not a collaborative effort.  This model may be reducing your firm’s overall efficiency.

The use of Cloud and on-premise ECM technology has become prevalent in the corporate environment to overcome such roadblocks.  This technology is used most effectively when teams think outside the box and apply technology properly to independent situations, rather than using a standard process for clearly unique business problems.

Currently, E-Business Suite (EBS) Accounts Payable (AP) users are comfortable utilizing EBS to store invoices, along with supplier and other internal communications, as attachments.  Then, when questions and audits arise during the payment process, they are routed to AP for further insight, as there is no Cloud or CRM system access to the documents.  Each time a question arises, AP spends valuable time searching and forwarding copies of documents to internal users and suppliers to answer questions that could be addressed through self-service.

In a Cloud or ECM environment, questions and answers can be posted by AP, suppliers, and other parties, and documents are shared to resolve issues in a collaborative manner.  Deploying a system that allows internal and supplier collaboration helps firms realize greater efficiency and an increased bottom line.