How much are tech problems hurting your A/P department?
Technology problems are bound to affect every department in your company, but new research suggests A/P is especially hard hit.
A recent poll TrackVia asked A/P pros, “How much time per month does Accounts Payable lose because of computer problems?”
Here’s a breakdown of the responses:
- Less than an hour (35%)
- One to three hours (29%)
- Four to 10 hours (22%), and
- More than 10 hours (14%).
Based on these findings, almost two-thirds (65%) of A/P departments are losing at least an hour of their valuable time because of tech issues. What’s worse, a fair amount of departments are losing a good chunk of their workweek to these problems.
So what can you do? Obviously, you can’t tell IT how to do their jobs, but there are certain steps you can take to minimize issue. For example, if you know of a software upgrade or added feature on your Accounting program that’s been proven to run more efficiently than your current version, talk to IT about it.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
White Papers
Provided by Personify Health
Further Reading
Exporting ERP data into Excel and manually building financial reporting processes and reports is costing your team more than just time. Man...
If your revenue involves digital goods and services, you’ve noticed more states are expecting you to collect and remit sales tax on t...
Fewer college students are willing to put in the time and money to become accountants. Finance professionals are concerned about the dwindl...
The Securities and Exchange Commission (SEC) under President Biden continues to make an example of companies and individuals that don’...
Heads up: Public accounting firms will need to implement (or update existing) quality control protocols. And they must reevaluate their qua...
AI skills aren’t just nice-to-haves anymore. Finance leaders and the U.S. Department of Labor can agree on that much. Nearly a th...
