Loading...

Since the start of the 11th century, Accounts Payable (AP) has been used for calculating business expenses in the double-entry accounting system. For most companies, the process for managing AP is mostly paper-based. But with the help of technology and the ability to streamline data input, invoices and payment processing, you can now turn the AP function from a cost centre into a revenue generator. Especially for small businesses, where managing AP can be extremely manual, labor intensive and inefficient, Business Finance magazine estimates AP automation can save an average of 130 HKD on processing costs per invoice.

Automate accounts payable so it can help generate more revenue for your business

Your accounting staff will spend the majority of its time on manual data-entry or processing paper - creating invoices, sending checks, and chasing up late payments. Atradius estimates that more than 45% of B2B invoices were paid late in 2018 and uncollectible receivables in Hong Kong remain some of the highest in Asia Pacific.

In the next few weeks, Reap will be launching scheduled payments so you and your finance team can automate the AP process, reduce the inevitable errors related to manual entry and ultimately elevate your business performance.

1. Get early payment discounts

By increasing the speed of managing AP, you have more leverage to potentially access or negotiate a discount for earlier payments. Contact your suppliers and see if you paid invoice on receipt, would that get you a discount. In most scenarios, you can negotiate some discount, because they would obviously like to get paid sooner than later even at 1 - 2%, these discounts can add up, especially during times of increasing competition and thinning margins. With Reap, you are also able to get additional air miles and cash back associated with larger supplier payments to further increase the value of managing AP.

2. Reduce late payments and errors

When AP management is done manually, there is a higher risk of data-entry errors and delays. Have you ever had conversations with your supplier where you had to call them to track down payment information? Your accounting team would have to spend an entire day to send emails, sort through files to figure out information related to the invoice or the payment process. This process is highly time consuming and can negatively affect team productivity and morale. Most importantly, late payments may affect your reputation with suppliers.

Your business should set up a streamlined payment process as soon as you receive an invoice (ideally in real-time) so you can track all invoices as it goes through the AP process. This will inevitably prevent damages in the form of late fees and severed supplier relationships.

3. Improve cash management

Previously, we wrote about the importance of cash flow management for small businesses.

Automating AP should be a key focus for you and your business if you want to manage cash flow effectively. A streamlined AP system speeds up processing and gives you better insights into where your cash is going. As you get new invoices, you should be able to track every change on the invoice (all the from issuance to marking it as paid) and these changes should be searchable at a later time.

4. Scale employee productivity

Your accounting team (internal or outsourced) are often swamped with work to keep your books in check. They need to input invoice information, process invoices, handle edge cases and changes in expectations, coordinate with supplies, to name a few. AP Automation reduces this manual process so you can save on billable hours and enable your employees to focus on other higher leverage tasks. 

Going forward, Reap will be launching scheduled payments where you would be able to set (and hopefully forget) expenses and payables that you have to make on a regular basis. We hope this will help streamline your AP process so you can transform your AP function into a revenue generator.

自11世紀初以來,應繳賬項(AP)已被應用於複式薄記中,用來計算企業開銷。大多數公司在管理應繳賬項的流程中主要仍沿用紙張記賬。但隨著科技發展,不論是輸入數據、開發票,以至支付賬項等流程都得以簡化,眾所周知應繳賬項是成本中心的一部分,但現在你大可以將它轉化成有利可圖的項目。特別是對於那些非常依賴人手操作且效率較低的小企業,“商業金融”雜誌推算將應繳賬項自動化的話,在處理發票時,每一張發票的處理成本平均可節省港幣130元。

將應繳賬項自動化能為企業帶來更多收益

你的會計部員工平日將大部分時間用於人手輸入數據或處理文書工作 – 開發票、發送支票和追討逾期費用。Atradius估計,2018年企業與企業之間的發票有超過45%是未能按期支付的,而在香港無法收回的應收賬項即壞賬比例,是亞太區最高的。

在接下來的幾週,Reap將會推出預設付款服務,以便你和你的財務團隊將處理AP的流程自動化,減少因人手操作而造成不必要的人為錯誤,繼而提升你的業務表現。

1. 提前付款以獲取折扣

管理AP時的效率提高了,變相令你與供應商接觸或協商時有更大的能力去討價還價,從而爭取在提早付款時獲取折扣。聯繫你的供應商,看看在收到發票後即時安排付款,會不會可以獲得折扣。在大多數情況下,你可以協商到一些折扣,因為他們都希望能盡早收回賬項,即使只是1-2%,但在競爭激烈和利潤微薄的營商環境中,這些折扣也可增加你的收入,積沙成塔。透過Reap進行支付,你還可以獲得額外的飛行里數,有些大規模的供應商甚至會提供現金回增,無疑是令你在管理AP時有所得益。

2. 減少逾期支付和人手出錯的情況

在處理AP時以人手方式處理的話,錯誤輸入數據或延誤的風險會很高。你是否曾經致電予你的供應商去追蹤已支付款項的到賬情況?你的會計部員工經常要花一整天的時間去發送電子郵件,或者為發票、付款流程相關的文件進行分類。這些流程都非常費時,而且會對團隊的生產力和士氣產生負面影響。最重要的是,逾期付款可能會影響你與供應商的關係和你的聲譽。

你的企業應該簡化付款流程,當你收到發票後(理想情況下是實時)所有發票應進入AP的付費流程,讓你可以追蹤所有發票的狀況。這樣將避免不必要的錯誤或延誤而損害到與供應商的關係。

3. 改善現金管理

較早前,我們寫過關於小企業管理現金流的重要性

如果你想更有效地管理現金流,將AP自動化應該是你和你的企業要關注的重點。簡化AP系統可加快處理發票或支付的速度,讓你更了解現金的流向。當你收到新發票時,你應該能夠追蹤發票上的每個變更(從收到新開的發票到完成付款程序),而這些變更應該在往後的時間可以輕易追溯得到。

4. 提升員工生產力

您的會計團隊(內部或外判)經常為了記賬或更新賬目而被沒完沒了的工作淹沒。他們需要輸入發票信息、處理發票、處理具爭議性的賬項,甚至管理你對他們的工作期望、與供應商協調等等。將AP自動化可減省人手處理賬項的流程,從而讓你節省員工支出,並使你的員工能夠將時間專注於其他更高效能的工作上。

展望未來,Reap即將推出預設付款服務,你可以設定(並將煩惱拋諸腦後)定期要支付的費用和將應繳賬項設定在特定時間進行支付。我們希望這有助於簡化你的AP流程,讓它能從中節省開支並轉而增加收益。

More from Our Blog

You Might Also Like

更多文章

你可能還喜歡

Credit Cards

【信貸評級】4招妥善管理信用卡改善TU評級

信用卡的確為消費者帶來很多好處,不但付款變得方便,用家也能獲得許多優惠和回贈(想以信用卡支付所有支出,賺取更多優惠?使用Reap吧!),但信用卡這種產品是一個雙刃劍,如果不妥善使用的話,可能會弄巧反拙,影響你的個人信貸評級。環聯(TU)信貸評級與銀行信貸服務的審批程序息息相關,有一個良好的TU評級,對於你申請按揭、私人貸款,以致信用卡及銀行戶口等,都有很大好處。那麼,我們該如何從使用信用卡的習慣入手,改善TU評級?

Posted on 
Aug 12, 2019
  by
Neva Kwok

【信貸評級】4招妥善管理信用卡改善TU評級

信用卡的確為消費者帶來很多好處,不但付款變得方便,用家也能獲得許多優惠和回贈(想以信用卡支付所有支出,賺取更多優惠?使用Reap吧!),但信用卡這種產品是一個雙刃劍,如果不妥善使用的話,可能會弄巧反拙,影響你的個人信貸評級。環聯(TU)信貸評級與銀行信貸服務的審批程序息息相關,有一個良好的TU評級,對於你申請按揭、私人貸款,以致信用卡及銀行戶口等,都有很大好處。那麼,我們該如何從使用信用卡的習慣入手,改善TU評級?

張貼
Aug 12, 2019
  by
Neva Kwok
Managing Money

【理財心得】記錄開支有何用處?記賬對改善理財的4大好處

你上個月花了多少錢消遣娛樂?出街食飯的開支有幾多?信用卡的總消費額呢?如果你沒有記錄開支習慣,相信一時間很難回答這些問題。記賬是個人理財重要的一環,保持良好的記帳習慣,對改善財務有莫大裨益。

Posted on 
Aug 7, 2019
  by
Neva Kwok

【理財心得】記錄開支有何用處?記賬對改善理財的4大好處

你上個月花了多少錢消遣娛樂?出街食飯的開支有幾多?信用卡的總消費額呢?如果你沒有記錄開支習慣,相信一時間很難回答這些問題。記賬是個人理財重要的一環,保持良好的記帳習慣,對改善財務有莫大裨益。

張貼
Aug 7, 2019
  by
Neva Kwok

Subscribe To Our Blog

Stay on top of the latest SMEs Management, Cash Flow tips, and best practices

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

訂閱我們的 Blog

獲取最新中小企管理、現金流、商業趨勢、最佳營運方法資料

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.