Inside the Action: The 2024 Procede Conference

Quick Digest: Late payments and vendor frustrations? Procede Software Conference 2024 highlighted the power of automation in fixing these common dealership issues. See how automated workflows can eliminate errors and streamline your vendor payment process.

This year’s 2024 Procede Software Conference was nothing short of impressive. Held from September 16-18, it brought together industry leaders, tech innovators, and professionals from across the heavy trucking dealership sector. The theme, G.R.I.T. (Growth, Resilience, Innovation, and Technology), set the stage for three days of in-depth discussions on tackling some of the most pressing issues facing the industry today. And at the forefront of these conversations? Payments. 

While many topics were covered at the conference, including key updates in parts, service, lease-rental, and IT systems, payments took center stage in more ways than one. Late payments, missed payments, and the overall lack of transparency in payment processes are ongoing challenges for dealerships of all sizes. Let’s dive into the key takeaways we gathered from the conference and how automation can play a pivotal role in addressing these concerns. 

The Complexities of Vendor Payments in the Heavy Trucking Industry 

For dealerships, managing vendor payments can feel like walking a tightrope. Juggling multiple vendors, keeping track of payment schedules, and ensuring that each invoice gets paid on time is no small feat. At the conference, many attendees shared their experiences of missed payments and the negative impact they had on vendor relationships and dealership operations. When payments slip through the cracks, it can create a ripple effect – causing delays, frustrations, and even potential disruptions to the supply chain. 

One of the most common challenges discussed was the sheer volume of paperwork and manual processes that bog down AP departments. Many dealerships are still relying on outdated systems to manage their payments, which often leads to: 

• Late Payments: Without real-time visibility into payment status, invoices can easily be overlooked, resulting in late payments and strained vendor relationships. 

• Missed Payments: A lack of automated reminders or alerts can cause dealerships to completely miss payment deadlines, leading to penalties or interest fees. 

• Lack of Payment Transparency: Manual processes make it difficult to track where payments are in the approval pipeline, leaving vendors in the dark and dealership staff scrambling for answers. 

The 2024 Procede Software Conference shed light on the fact that these issues are not unique to any one dealership. It’s a widespread challenge across the industry – but thankfully, there are solutions. 

The Power of Automation: Streamlining Vendor Payments 

One of the key themes that emerged at the conference was the need for dealerships to move away from manual processes and embrace automation to improve accuracy, efficiency, and transparency. Automation allows businesses to transform clunky, error-prone workflows into smooth, predictable processes, especially when it comes to vendor payments. 

So, what makes automation so impactful in the vendor payment space? 

• Increased Visibility and Transparency: Automation tools allow dealership teams to see the status of any payment in real-time. This transparency is crucial in maintaining strong vendor relationships, as vendors can be kept informed about when they can expect their payments. No more chasing down answers – everything is at your fingertips. 

• Fewer Missed Payments: With automated workflows, dealerships can set up reminders and alerts to ensure that no invoice goes unpaid. This proactive approach can eliminate late payments and ensure that vendors are paid promptly, avoiding costly penalties or disruptions in service. 

• Streamlined Approval Processes: One of the main challenges AP departments face is getting payments approved in a timely manner. Automation allows invoices to be routed automatically to the appropriate approvers, significantly reducing bottlenecks and delays. 

• Improved Accuracy: Manual data entry is a major culprit behind many payment errors. Automation reduces the risk of human error, ensuring that vendor information, amounts, and payment dates are accurate every time. 

Looking to the Future: The Road Ahead 

The 2024 Procede Software Conference was a wake-up call for many in the industry. The challenges surrounding payments are not going away anytime soon – but dealerships don’t have to face them alone. By leveraging automation tools, dealerships can turn a frustrating and error-prone process into a streamlined, efficient one. 

The conference’s closing session emphasized the importance of adapting to change and embracing technology to stay competitive. In an industry as fast-paced as heavy trucking, those who continue to rely on manual processes will find themselves falling behind. Automation isn’t just a convenience – it’s a necessity for growth and sustainability. 

Ready to Take Control of Your Vendor Payments? Discover DocuPhase. 

If you’re ready to leave behind the frustration of late payments, missed deadlines, and muddy approval processes, DocuPhase is here to help. As a leading automation platform, DocuPhase provides powerful solutions to streamline and simplify the vendor payment process. 

Whether it’s automating your vendor payments, streamlining your AP department, or transforming how your dealership handles documents, DocuPhase offers the tools you need to: 

• Increase Payment Accuracy: Eliminate manual errors and ensure every invoice is processed correctly. 

• Improve Transparency: Gain real-time visibility into your payment workflows, keeping your vendors informed and your processes efficient. 

• Enhance Vendor Relationships: With on-time payments and transparent processes, strengthen your partnerships and avoid unnecessary disruptions. 

Don’t wait for payment headaches to pile up – explore how DocuPhase can transform your dealership’s vendor payment processes today. Schedule a demo with one of our automation experts and start working smarter, not harder.