Find Out How AP Solutions Can Transform Your Business

Top Reasons Why You Should Automate Accounts Payable

Although technology has made Accounts Payable payment automation a standard for a lot of companies, 60 percent of businesses in the United States do not know of the many advantages to A/P automation. Leveraging software to utilize the process in manner that is seamless and effortless, here are our major 5 reasons to automate.

Cash Optimization
Accounts Payable automation enables A/P to accurately project its outstanding cash specifications, consequently getting rid of guess work. With more transparency from A/P automation, awareness into the process allows your A/P department to deal with activities and things which will effect your department with value add actions.

Improve central controls
A manual A/P process is vulnerable to fraudulent activity. You multiply the risks of human oversight, late payments, missing invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that reduce and discourage fraud.

Optimize Awareness
The obsolete manual process is affected with insufficient visibility, by which can result in neglecting to identify a part of liabilities. This could understate operating expenses and therefore overstate earnings, that may lead to accounting and reporting abnormalities and ultimately fraudulent activity. A/P automation provides a whole audit trail of each and every part of the method, and allows management to rapidly deal with possible troubles.

Please Customers
Your suppliers want a more efficient payment method. Easier payments result in special discounts and cost savings for you. Whenever you pay your clients by way of virtual card, which is an individual issued credit card for a one-time use, you receive monthly cash rebates. It’s jointly beneficial for Accounts Payable and Accounts Receivable. Your clients experience more efficient, streamlined payments and your A/P Department pivots to a profit generator.

Improve Quality
Avoid error, delay, and avoidable costs read more with an automated A/P process. A/P errors may be very costly and consume many resources to manually solve. With payment automation, you will see where, when and why errors happened. Contrary to the manual process, with automation you’ll be able to systematically address and get rid of issues to enhance quality.
A/P payment automation will save you cash, earn you extra profit, lessen the risks of fraud, provide your operations increased transparency, meet your customers’ needs, and advance the total quality of your A/P processes.

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