• Paperless AP
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The all-time worst AP horror stories

Paper still happens. Invoices stream in by mail, email…even fax. Each is received and sent off on its approval journey, which is typically impossible to track whether it goes to an office on the other side of the country or the department across the hall.

At any point, things could go horribly wrong.

 

Accounts Payable

Consider these true stories (anonymous to protect the innocent):

  • A sheriff shows up and posts an eviction notice; rent invoices were “never received”…  
  • One company having a $500 tolerance on deviations, because they just can’t find an efficient way to capture general expenses…
  • Ten’s of thousands of dollars going unaccounted for…
  • Finding a box of invoices in the corner of an office…
  • Bills related to the city don’t get paid, and having to go to a judge (we all know how easy governments can be to navigate)…
  • Business users and VPs spending up to 15 hours a week doing clerical work…

Of course, these are extreme situations that illustrate the very real and pervasive problem with archaic manual processes that no longer serve the realities of today’s fast-paced business.

If you haven’t checked it out yet, browse through our infographic for all too feasible ways that paper invoice processing is actually undermining the books.

 

Dmitri Krasik

Director of Sales Medius North America

dmitri.krasik@medius-group.com

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