Find Out How AP Automation Can Transform Your Business

Top Reasons to Automate Accounts Payable

While tech has made Accounts Payable payment automation a standard for numerous companies, 60 % of organizations in the United States do not know of the numerous advantages of A/P automation. Leveraging software to utilize the process in manner that is seamless and trouble-free, the following are our best five reasons to automate.

Cash Optimization
Accounts Payable automation lets A/P to correctly project its pending cash requirements, therefore eliminating guess work. With more transparency from A/P automation, visibility into the process allows your A/P department to give attention to activities and priorities which will effect your department with value add activities.

Reinforce central controls
A manual A/P method is at risk of fraudulent activity. You multiply the pitfalls of human error, late payments, missing invoices, and the dreaded rush invoices. An automated A/P process embeds controls that avoid and discourage fraudulent activity.

Enhance Exposure
The obsolete manual practice is affected with insufficient awareness, in which can result in neglecting to recognize a portion of liabilities. This can understate expenses and therefore overstate earnings, which can cause accounting and reporting malfunctions and ultimately fraud. A/P automation provides a total audit trail of each step in the process, and allows management to quickly solve potential issues.

Please Clients
Your suppliers prefer a more beneficial payment process. More efficient payments result in savings click here and cost savings for you. When you pay your clients by way of virtual card, which is a single issued credit card for a one-time use, you receive monthly cash rebates. It’s jointly good for Accounts Payable and Accounts Receivable. Your customers experience more efficient, streamlined payments here and your A/P Department pivots to a profit generator.

Improve Quality
Prevent error, delay, and avoidable costs with an automated A/P process. A/P mistakes are costly and take many resources to manually resolve. With payment automation, you see where, when and why problems occurred. Contrary to the manual process, with automation you’ll be in a position to systematically address and reduce errors to increase quality.
A/P payment automation can save you cash, earn you additional revenue, decrease the risks of fraudulent activity, bring your operations more transparency, satisfy your customers’ demands, and advance the total quality accounts payable automation of your A/P processes.

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