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6 Key Considerations for Implementing AP Automation in Microsoft Dynamics 365 F&SCM

Sikich

May 3 2023

3 min read

Accounts Payable (AP) is a great candidate for automation, however, the process is often not a priority for many organizations. AP is often seen as strictly back-office, but times are changing, and organizations can benefit greatly by improving AP process efficiency. AP automation boasts impressive improvements across the board: lower processing costs, rapid approvals, lower exception rates, higher rate of straight-through processing, increased transparency, and control.

Implementing AP automation in Microsoft Dynamics 365 Finance and Supply Chain Management (F&SCM) or in Microsoft Dynamics AX, requires careful consideration of several key factors to ensure success. Here are 6 important considerations.

Workflow Design

One of the essential considerations is the design of the workflow for the AP process. It is crucial to create a logical, streamlined, and automated workflow within Dynamics 365 (D365). The workflow design should ensure the timely processing of invoices and minimize the manual effort required for approval and payment processing.

Integration

You need an AP automation tool that is seamless. For example, if you leverage an add-on module, there are no integrations. Without the need for data synchronization, everything is done in real time. You want your users work in their familiar Dynamics 365 F&SCM environment.

Document Management

Effective document management is crucial for the AP process. The automation solution should include tools for document capture, storage, and retrieval. This will help in reducing the amount of paper documents, minimizing the manual effort required for data entry, and increasing visibility into the AP process.

Compliance

Compliance with regulatory requirements is essential in the AP process. The automation solution should ensure that all invoices are in compliance with tax and regulatory requirements. It should also have the capability to audit and report on compliance-related data.

Reporting and Analytics

The automation solution should provide reporting and analytics capabilities to help organizations monitor the AP process’s performance. This will help in identifying bottlenecks, tracking key metrics, and continuously improving the AP process.

Security

Security is a critical consideration when implementing AP automation in D365. If the solutions sits within Dynamics 365, then it will be able to leverage the robust security features inherent to the Microsoft platform to protect sensitive financial data from unauthorized access or cyber threats.

Overall, a successful implementation of AP automation in D365 requires careful planning, collaboration, and attention to detail, which is why we work with Exflow for our clients. ExFlow is an invoice and Accounts Payable automation solution built into Dynamics 365 Finance and Supply Chain Management. ExFlow automates the end-to-end invoice process, improving control and increasing efficiency, saving both time and money.

Contact us to learn more on AP automation with D365 F&SCM.

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About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 