Accounts Receivable staff spends a considerable amount of time chasing payable invoices. An out of control of aging AR can result in considerable strain on business cash-flows, hence accounting teams are under intense pressure to keep AR Current. This “chasing invoice” activity includes Run the AR Aging report Opening.
Data updates to systems can be cumbersome especially if there isn’t a standard data structure and the system does not allow for bulk updates through spreadsheets. A common example of such an update are product updates. A supplier may update products specifications from time to time and this can result.
Employee On-boarding requires various verifications and data entry into multiple systems. These include, employment and background verification, payroll and IT provisioning systems to name a few. This can be a time consuming. On-boarding activities include: Send and receive on-boarding documents from new employee Perform employment eligibility verification Create employee record.
Invoice processing is a time consuming task. Invoices need to be scanned and read and various checks need to be applied before these can be entered into the Accounting System. Receive and read invoice Check invoice against vendor and PO Send for approval if discrepancies are found Enter the invoice.