How to gain more vivid visibility into your hotel’s Accounts Payable process

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If you’re a hotelier you must have aspiring to have enough visibility and control over your accounts payable process. And that’s purely valid, because failing to manage it can seriously affect your hotel business. By partnering with the right AP Automation Software, you can simplify your accounts payable processing and that’s how you build better vendor relationships while unleashing more productive space to focus on value-added tasks, guest satisfaction and ultimately improving your bottom line.

Automation in AP allows you to track bills, which were on the desk and how long they’ve been in the queue, and so on. Furthermore, the automation in processes makes things go streamlined and being efficient in your accountants while allowing you to go paperless, which in turn saves infrastructure and equipment costs. Most importantly, the AP Automation software makes everything accessible from anywhere right at your fingertips – on a smart device with an internet connection enabled.

More vivid visibility and better control of the business aspects, especially in AP processes allow you hotel managers gain extensive knowledge and insights into how the money is processed and handled at your hotels.

Generally, more clear information means more efficiency, and it’s much easier to monitor the work that is automated; an added bonus.

Let’s now dwell into how precisely an automated AP solution can increase the visibility into your AP process.

AUTOMATED ACCOUNTS PAYABLE SOLUTIONS INCREASE VISIBILITY

Embracing automation in AP processing improves your approval and transaction cycle’s visibility to your accounting department, which allows a solidifying control over the hotel’s finances. It can actually be very effective in making your aware of the day-to-day operations, as it usually offers even more effective features.

However, there’s yet another important thing to consider when choosing an automated Accounts Payable solution ‘REPORTING’ and that is oftentimes overlooked. If your reporting structure isn’t capable enough to measure AP process, then how do you know if it’s going in the right direction? So look for an automated platform, that essentially lets you do reports in an accurate manner.

Automated AP solutions not only play a key role in monitoring and improving your accounts payable, but also gets the audits completed quickly and thoroughly so you can see where the hotel’s Cashflow is coming and going.

AP Automation Tips To Increase Accounts Payable Visibility

All AP activities are to be easy-to-accessible, secure, and cloud-based to make timely & informed decisions regarding the hotel’s cash flow.

A fully automated and transparent AP process allows your hotel managers have better visibility and control over the transaction cycle, by gaining the ability to review and approve the payments from the system.

An automated AP software if leverages integration offers an ability to search and route invoices across the system for seamless approvals, keep things organized in a centralized location.

Nimble’s AI enables AP Automation lets you reduce your accounts payables processing time by 80%

Nimble Property is a proven accounting solution that enables seamless AP processing with AI-enabled bill automation offering multi-level approvals.

All you have to do is just submit the paper invoices to Nimble in an electronic manner and the system utilizes OCR scanning and leverages AI to automatically read, convert and map ‘em into the particular bill-entry fields including credit card, check, and bill payments.

At the convenience of your managers, they can effortlessly view and approve them accordingly.

Dramatically, your staff will improve the control and visibility of your AP management processes.

When you start embracing automation and intelligence, you’ll always have room to grow. And, at Nimble timely alerts and notifications are enabled on the intuitive dashboard regards to pending, aging or overdue payments.

Your corporate team has a great convenience of seamless approvals!

Automated accounting software like Nimble is all you need to identify the pain points in AP processing and strengthen them towards making your vendors see good results.

Besides, the detailed reporting regards to your Accounts Payable lets you determine if everything is working fine for you and your hotel.

Revealing bottlenecks and insufficiencies in your AP process bring in better visibility, so Cashflow becomes sustainable and strong relationships are built.

It’s being evident that ardent hoteliers report that 39% of their accounts payable departments encounter high invoice processing costs as well as witness a high percentage of errors. Finding a reliable automated AP solution transforms and streamlines AP processes by eliminating all the human data entry errors and evades manual processes, which in the end lessens the burden on your accounts payable team.

If you feel it is high time. Then switch to Nimble Property’s accounts payable automation software so your AP department can experience a sigh of relief to create efficiency and improve your hotel’s cash management.

For Further reading: buzztum.com

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