Empower AP with Real-Time Vendor Payment Updates
July 28, 2021
Estimated Reading Time: 1 minute
For AP teams, payment status inquiries are not only routine, but it can be a challenging part of the job. Vendors expect to be paid promptly and when those payments aren’t met, it is only natural that frustrations arise.
This is why employing an efficient system that tracks payment status is hugely beneficial for any organization – not just for credibility but also for your employees’ mental wellbeing.
With Beanworks AP automation, companies can look up the status of vendor payments anytime and from anywhere. All documents are stored in real-time and accessible from the cloud, making visibility and transparency a guarantee. Using the global search feature, you can use keywords and filters like vendor, date range, amount and more, to find any AP document in seconds.
What’s more, by using the Beanworks sophisticated platform, employers can easily search through all exported invoices, sorting them by type, reference number, amount or process date. Being able to easily identify where each individual payment is in the workflow with confidence gives power back to AP teams, and arms them with the necessary information to manage vendors effectively.
Keeping vendors happy and developing a solid relationship built on trust and respect is vital for encouraging repeat customers. Everyone needs to be paid on time and leaving customers in the dark is no longer a valid excuse in our digital, hyper-connected world.
Avoid delayed payments and access their status in real-time
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