Find Out How AP Automation Can Transform Your Business

Top Reasons to Automate Accounts Payable

Even though tech makes Accounts Payable payment automation a standard for many companies, 60 percent of companies in the USA are unaware of the countless benefits associated with A/P automation. Leveraging software to utilize the process in manner that is seamless and easy, listed here are our best 5 reasons why you should automate.

Cash Optimization
Accounts Payable automation enables A/P to correctly project its pending cash specifications, therefore removing estimation. With increased transparency from A/P automation, visibility into the system allows your A/P department to deal with tasks and priorities which will impact your department with value add activities.

Strengthen central controls
A manual A/P process is vulnerable to fraudulent activity. You raise the issues of human oversight, late payments, lost invoices, and the dreaded rush invoices. An automated A/P process embeds controls that avoid and deter fraud.

Boost Exposure
The outdated manual practice suffers from lack of awareness, by which can result in neglecting to identify a portion of liabilities. This could understate operating expenses thereby overstate revenue, that may trigger accounting and reporting irregularities and ultimately fraud. A/P automation provides a whole audit trail of each and every part of the method, and permits management to swiftly resolve potential difficulties.

Please Customers
Your suppliers want a more effective payment method. More efficient payments click here result in special offers and cost savings for you. If you pay your clients by way of virtual credit card, which is a single issued card for a one-time use, you earn monthly cash rebates. It’s mutually good for Accounts Payable and Accounts Receivable. Your clients experience more efficient, streamlined payments and your A/P Department pivots to a income generator.

Improve Quality
Prevent error, delay, and unnecessary costs with an automated A/P process. A/P errors are costly and take many resources to manually clear up. With payment automation, you see where, when and why faults happened. Unlike the manual procedure, with automation you’ll have the ability to systematically address and eliminate mistakes to increase quality.
A/P payment automation can help you save cash, earn you additional cash, reduce the risks of fraud, get your operations more transparency, fulfill your customers’ needs, and improve the total quality of your A/P processes.

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