Dear Contractor, Your Payment Will Be Delayed

By Optiform Blogger, February 28, 2017


Late contractor payments due to an abundance of invoices

As a startup, you dream of the day that you have the dilemma of too much business. The day that your hard work and effort invested begins to pays off. The day that you realize that you are making the difference that you set out to make. These are the days that you’ve worked countless hours to see and the days that you have lost many nights of sleep over. You made it. It is working.

With growth comes pain. With growth comes the realization that processes must be implemented to account for all the amazing successes you are experiencing.  For some, these processes may be the addition of a CRM to keep up with all the leads and customers and so none of them fall through the cracks. If your startup is project based, the next tool on your horizon may be a project management software. And for others, this process improvement starts in their Accounts Payable department.

The dreaded notification

It can happen to anyone. When you have an abundance of any type of document to process and everything is handled manually, you are only able to process them as quickly as the humans tasked with the job can type. We are happy to tell you that what Optiform does is supports you in process automation which limits the number of letters that you may have to send like this:

Dear Contractors,

Our contractors are our most important asset. As our customer base continues to expand, we want to make sure that not only are our customers receiving the highest quality solutions, but that you are provided with the tools to be successful as well.

We have experienced some difficulties with our invoicing procedures. As our customer base and contractor pool continue to grow, it has become increasingly difficult to review, approve and process the number of invoices we receive every two weeks.

Our leadership team is meeting to discuss what the solution to our invoicing process may look like. In the meantime, I wanted to let you know that despite our best efforts, we were not able to get the this period’s invoices scheduled to be paid on the expected date. You will receive your direct deposits on the following business day.

The Solution for Slow Invoice Processing

Take note of this important statement in the above text: “it has become increasingly difficult to review, approve and process the number of invoices we receive”. This organization is doing their best to review large volumes of invoices that are submitted on a semi-monthly basis. This team is a prime candidate for invoice automation software.

Not only can they set up standard operating procedures for contractors to submit invoices, which will limit the time with document preparation, but they will also eliminate the need to review each individual invoice based. Database lookups can be configured within invoice automation software that can compare and match purchase orders with the invoices submitted by the contractor. If there are no conflicts with the invoice, the AP staff doesn’t have to touch the invoice at all. It will be sent on to the next step in the process, which in this case, will be payment on the expected date.

Watch this video to get an understanding of how it works:

Contact us for a demonstration and pricing. You can call 317-822-8150 or fill our this form to have someone contact you regarding ABBYY FlexiCapture for Invoices.


Position your team for success

Optiform offers a broad spectrum of data processing solutions customized to fit any business need. From human resource departments to the information produced through clinical trials, Optiform has a long history of maximizing the efficiency of all its clients. Optiform is here to provide  personalized support and recommendations both pre and post project, to ensure your long-term satisfaction and paper-free results. Contact us today to set up a personalized one-on-one consultation for software and business process recommendations. Already a valued Optiform client? Our customer support is ready to help.