Find Out How AP Automation Can Transform Your Business

Top Reasons Why You Should Automate Accounts Payable

Despite the fact that tech makes Accounts Payable payment automation indispensable for a number of corporations, 60 % of companies in the United States are unaware of the countless advantages of A/P automation. Leveraging software to implement the process in manner that is seamless and trouble-free, the following are our top 5 reasons to automate.

Cash Optimization
Accounts Payable automation allows A/P to accurately project its outstanding cash specifications, accordingly removing guess work. With better transparency from A/P automation, visibility into the system allows your A/P department to deal with tasks and priorities that can effect your department with value add actions.

Reinforce internal controls
A manual A/P method is subject to fraudulent activity. You multiply the challenges of human oversight, late payments, lost invoices, and the dreaded rush invoices. An automated A/P process embeds controls that prevent and discourage fraudulent activity.

Maximize Exposure
The obsolete manual method is affected with insufficient visibility, through which can result in failing to identify a part of risks. This may understate operating expenses and therefore overstate earnings, that may lead to accounting and reporting abnormalities and ultimately fraudulent activity. A/P here automation delivers a total audit trail of every step more info in the process, and makes it possible for management to quickly deal with possible problems.

Please Clients
Your vendors want a more effective payment method. Easier payments result in savings and cost savings for you. Whenever you pay your customers via 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 customers experience more efficient, streamlined payments and your A/P Department pivots to a profit generator.

Enhance Quality
Prevent error, delay, and unnecessary costs with click here an automated A/P process. A/P mistakes can be very expensive and consume many resources to manually fix. With payment automation, you see where, when and why faults happened. Contrary to the manual process, with automation you’ll be able to methodically address and reduce mistakes to increase quality.
A/P payment automation can help you save cash, earn you additional income, decrease the risks of fraudulent activity, provide your operations greater transparency, meet your customers’ demands, and boost the total quality of your A/P processes.

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