Managing the accounts payable department can be a challenging task. Companies are often tripped up by manual data entry errors, lost paper invoices, missing information and delayed approvals. Beyond wasting time and eroding efficiency, these stumbling blocks can also lead to financial loss – especially when gaps in poorly managed processes result in overpayments or facilitate fraud.

Two non-profit organisations have just released their findings on a brand new solution for business process automation created by Australian software development company Cypher IQ.

Organisations looking to implement EDI for the first time need to consider the challenges associated with this legacy approach to electronic trading. And those looking to upgrade should think twice before throwing good money after bad.

If you’ve ever worked in an accounting department that relies on manual processes, you’ll know exactly how days filled with tedious data entry tasks can make you feel: like a robot.