Smaller businesses are taking longer to pay their bills due to a lack of invoice automation. Entrepreneur highlighted the fact that small business owners are taking a long time to pay bills with real estate firms taking the longest at 20 days, which went up from 10 days in 2009. Why, exactly, is it taking them so long? Lacking in efficiency Many companies are still stuck in the disorganization characterized by keeping paper documents on record. Paperless document management is helping businesses catch up, but for the ones that are behind on adopting this technology, the payment schedule is slow. When small businesses are slow to pay their bills, they will also be slow in getting paid, Entrepreneur reported. These small business owners also have difficulty managing their budgets, and tend to be slow in punishing customers who don't pay on time. Accounts payable departments have been burdened by paper documents, which can lead to inefficient office management. Approximately two-thirds of respondents in a Canon survey of business executives discovered that less than 10 percent of their suppliers use invoice automation. The source mentioned how invoice automation and document management software can remove the burden of storing physical documents off a company's shoulders, and executives will have to worry less about late payments, as well as lost records. Outsourcing as a solution Recently, a private company in Southern California, Main Electric Supply Co., made the switch to invoice automation. The business outsourced the painstaking data conversion, which Transcepta said was the best solution for a slow accounts payable department still stuck with loads of papers to process. "We wanted a resource that would assist us in managing paper flow and improving processes in our accounts payable department," said Main Electric CFO Karen Morris. A majority of respondents in the Canon survey said that they were most interested in outsourcing for electronic document imaging and invoice automation. The outsourcing process for converting paper documents to paperless document management includes preparing the documents, scanning them, organizing the files and extracting data for invoices. The change to electronic document management for an office can make the payment process faster. Disorganized billing procedures can lead to a lack of promptness in paying bills, which leads to a business not being paid fast, either, according to Entrepreneur. An office can pay its bills days faster if it makes the switch to paperless document management and considers outsourcing to help it makes the change.

1. www.papersave.com marketing@papersave.com 877-727-3799
SMALL BUSINESSES TOO SLOW IN ACCOUNTS PAYABLE
Smaller businesses are taking longer to pay their bills due to a lack of invoice
automation. Entrepreneur highlighted the fact that small business owners are taking a
long time to pay bills with real estate firms taking the longest at 20 days, which went up
from 10 days in 2009.
Why, exactly, is it taking them so long?
Lacking in efficiency
Many companies are still stuck in the disorganization characterized by keeping paper
documents on record. Paperless document management is helping businesses catch
up, but for the ones that are behind on adopting this technology, the payment schedule
is slow.
When small businesses are slow to pay their bills, they will also be slow in getting paid,
Entrepreneur reported. These small business owners also have difficulty managing their
budgets, and tend to be slow in punishing customers who don't pay on time.
Accounts payable departments have been burdened by paper documents, which can
lead to inefficient office management. Approximately two-thirds of respondents in a
Canon survey of business executives discovered that less than 10 percent of their
suppliers use invoice automation. The source mentioned how invoice automation

2. www.papersave.com marketing@papersave.com 877-727-3799
and document management software can remove the burden of storing
physical documents off a company's shoulders, and executives will have to worry less
about late payments, as well as lost records.
Outsourcing as a solution
Recently, a private company in Southern California, Main Electric Supply Co., made the
switch to invoice automation. The business outsourced the painstaking data conversion,
which Transcepta said was the best solution for a slow accounts payable department still
stuck with loads of papers to process.
"We wanted a resource that would assist us in managing paper flow and improving
processes in our accounts payable department," said Main Electric CFO Karen Morris.
A majority of respondents in the Canon survey said that they were most interested in
outsourcing for electronic document imaging and invoice automation. The
outsourcing process for converting paper documents to paperless document
management includes preparing the documents, scanning them, organizing the files
and extracting data for invoices.
The change to electronic document management for an office can make the payment
process faster. Disorganized billing procedures can lead to a lack of promptness in
paying bills, which leads to a business not being paid fast, either, according to
Entrepreneur. An office can pay its bills days faster if it makes the switch to paperless
document management and considers outsourcing to help it makes the change.
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