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Read This Before Printing Another Invoice
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Are your invoices automatically approved without any human intervention? Probably not, especially when exceptions are involved. Organizations will always need a way to route invoices for approval.
This issue features information to help automate your invoice workflow and eliminate time-consuming paper routing. In addition, readers should take note of recent developments in the "1099 reporting changes" saga.
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| Patrick Harbin – Editor
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1099 Changes Update |
Recent actions by the U.S. Senate could lead to a repeal of the increased 1099 reporting requirements originally passed as part of last year's health care bill.
See Major Step Taken Towards 1099 Repeal on TAPC.
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Workflow Statistics |
A key benefit of automated workflow is that organizations can approve invoices significantly sooner than with manual routing. According to new The Accounts Payable Network benchmarking data:
- 42 percent of organizations experienced increased invoice activity during the last year
- The median organization takes 19 days to process an incoming invoice for payment
- Exception routing accounts for nearly one-half of all late payments
For this month only, TAPN's video eLearning seminar, Imaging and Workflow, is available at no cost. Expert presenter Judy Bicking, former director of Johnson & Johnson's European project, highlights how to determine which functionalities you need and overcome common implementation hurdles. The video is sponsored by Hyland Software and earns 1 CEU.
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Just for Fun! |
Fast food chains are popular for serving up quick food for people on the go, including burgers, milkshakes and...weddings? See Hong Kong McDonalds Serves Up Weddings.
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