At PSIGEN, we’ve been a virtual company for over 10 years and while the evolving coronavirus pandemic may seem like the ultimate validation of such a business model, the truth is, it’s been an advantage all along.Continue reading
It sure is hard to find a rainbow if you are looking down! So, let’s find the bright side amongst the change that is upon us. During a trying time, we want to offer our guidance in your virtual transition. With over a decade of experience working remotely, we are confident we can lend a hand with your virtual office!Continue reading
Endless paperwork. Tedious busywork. Grunt work. The daily grind. Office drudgery. Manual labor. Soul-crushing monotony.
What do you call having to process AP invoices by hand?
Since 1995, our mission has been to eliminate mundane tasks by empowering people with document automation solutions – from capture to workflow to document management – and AP departments are one of the biggest beneficiaries.
Highest & Best Use of Your Employees
In real estate, the term “highest and best use” refers to the maximum value a specific property can have – like a parking lot vs. a skyscraper in Manhattan. Both take up the same square footage, but one has far more value than the other.
The same holds true for people, and we believe in empowering people and letting technology do the rest. Work doesn’t have to be a soul-killing exercise in meaningless repetition. Knowledge workers on your accounting team shouldn’t have to be saddled with data entry, manual approvals, and the printing and filing of paper – hallmarks of a job that offers little satisfaction and advancement possibilities. This is also a perfect recipe for employee turnover, especially for younger employees. Just try recruiting Millennials in this type of role… good luck!
AP Automation to the Rescue
Accounts payable automation is an opportunity for you to inspire your employees and encourage them to think and solve problems to generate more value for your organization by eliminating the grunt work.
PSIGEN’s AP automation technology enables you to boost productivity 300-400% by automating repetitive tasks like data entry, making information instantly and securely accessible throughout your enterprise, and delivering real-time, actionable data to your executive team.
PSIcapture alone typically does the work of five AP clerks so if you have 6 AP clerks, you only need one going forward – possibly on a part-time basis. Additionally, invoice processing time typically drops from 7-14+ days to 1-2 days per invoice, allowing you to capture early payment discounts.
Re-Allocate Employees into Profit Center Roles
“When an AP professional is no longer spending long hours examining and manually entering piles of purchasing orders, receipts and invoices, what might that person be doing instead? As machines increasingly take over repetitive and time-consuming tasks, the AP clerk will more frequently ask, ‘What can I do that a machine cannot? In what creative new ways can I add value to my organization?’ And that’s where the automation process ceases to be frightening and becomes exciting.“
– Accounting Today (April 24, 2019)
PSIGEN clients have re-allocated former AP clerks into sales, marketing and customer service roles where they hold more value for the organization by serving in a profit center capacity vs. a cost center – and they will likely find the work more satisfying, which can reduce turnover.
One of our real estate clients uses PSIcapture to automate the processing of 2,000 to 3,000 invoices per month. The impact: “We reduced our processing time overall, by 70%. That is a savings of almost 90 hours per month in processing time.” As a result, two accounting department employees are now working on developing competitive pricing programs that are helping the real estate company their expand market share because they now have time to spend on reviewing analytics, analyzing competitor information and providing executive level reporting that they never had time for before – without having to hire someone new.
See for Yourself
Send us a sampling of your invoices and we’ll show you how our AP automation technology works from soup to nuts. You’ll be so amazed by how quickly your invoices will be processed that you’ll want to start making employee re-allocation plans and deciding how to spend those early payment discounts.
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