What to do with all these paper invoices?
Many AP professionals are swimming in a sea of paper with invoices coming from vendors directly to the AP Department and other invoices being routed directly to accounts payable approvers. These invoices coming from the accounts payable approvers are the ones that we in AP are always blamed for losing even when they never get to the accounts payable department. Many of us AP professionals still process paper based invoices and then store the paper invoices either internally or at an offsite records center for up to seven years. Some AP Departments have started scanning invoices on the back-end after invoices have been entered into our ERP or AP system. Others are scanning invoices somewhere in the middle of the invoice approval process and then emailing invoices around the company…