Yes, AP best practices tell you to leave a paper trail, but the time has passed to take that advice literally. Progressive organizations are increasingly going to automated, paperless AP systems because:
- The cost of processing and storing paper invoices continues to escalate
- Locating archived paper invoices can be onerously time- and labor-intensive
- Millennial workers are more likely to adopt the latest technology over manual processes
- No matter how thick the walls or deep the moat, no paper invoice storage solution is adequately secure from natural or man-made disasters
Among the worst-case scenarios is having your invoice archive destroyed when a storage room is flooded, and then being approached for an audit.
For more on the true costs of paper-based invoice management, download the report.
Paperless invoice storage on the cloud—secure, private and immediately accessible.
The savings that come with modernizing invoice management start on the ground, with the cost-per- invoice plunging from an average of $23 for manual processing to $3.41 when automating with Concur Invoice. The economies and efficiencies continue to scale when you replace physical archiving and retrieval with cloud storage:
- Use Concur Invoice to capture and upload invoices and ditch paper invoices for good
- Log into the system and enter a quick search to pull up the status of an invoice
- Your vendors can use their online portal to see the status of an invoice instead of calling you and triggering an invoice hunt
- If you’re audited, instead of searching the basement or driving to the storage facility, you simply reach for the cloud and every invoice is at your command
And while IT security threats never sleep, you can rest assured that Concur is recognized as one of the top cloud security SaaS (Software as a Service) providers in the industry
See how Concur Invoice lets you process AP without paper and safely archive without walls.