Date: Wednesday 25th November 2020 Time: 11:00 am Duration: 30 mins
Local Authorities are being asked to further shape their ways of working in order to substantially reduce costs and now enable remote working.
Kefron has been working with a number of Local Authorities to focus in on their Finance Departments specifically, in order to uncover opportunities for simplification and cost reduction. We do this by implementing Kefron AP, a cloud based software designed to streamline the accounts payable process.
When honing in on accounts payable and payments, these are the following 8 areas that have been highlighted as inefficient across a number of local councils:
Variety of invoices – “We have separate processes for Social Care and Commercial invoices touching different systems like Oracle and Mosaic, which makes the process fragmented”
Backlog of on hold invoices – “We hold millions in outstanding liabilities due to unresolved invoice issues”
Checking for duplicate invoices – ‘We have hundreds – sometimes thousands – of these’
Invoice matching – “We’d like those invoices that match with receipted PO’s to be processed automatically”
Scanning – “Typing in all of the invoice data to our ERP is a huge drain on our time”
Audit checks before payments runs – “Does the bank details on the invoice match what’s in ERP?”
On-going communication with internal staff and suppliers – “This process is very inefficient and burns up so much time”
Invoice flow – “We need to get standard e-mail invoices, as well as posted invoices and raw data from early payment discount providers flowing in to our ERP”
Do these challenges resonate with you?
If so, learn more about the benefits and how Accounts Payable Automation can help your business, or contact us to receive a recording of this webinar.
At Kefron we see complexity and make it simple. Our business exists to improve how you manage your information, be it Document Management Services or digitisation of your information. We can make a real difference to your business. This is what drives us.