Benefits of AP Automation

Top Reasons Why You Should Automate Accounts Payable

Although technology makes Accounts Payable payment automation indispensable for numerous companies, 60 % of organizations in the United States do not know of the many advantages of A/P automation. Leveraging software to utilize the method in manner that is seamless and effortless, the following are our main five reasons to automate.

Cash Optimization
Accounts Payable automation enables A/P to correctly project its outstanding cash requirements, consequently removing guesswork. With greater transparency from A/P automation, visibility into the system allows your A/P department to focus on activities and priorities which will effect your department with value add actions.

Reinforce central controls
A manual A/P process is vulnerable to fraud. You multiply the pitfalls of human error, late payments, missing invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that reduce and deter fraud.

Maximize Awareness
The outdated manual practice is affected read more with insufficient visibility, in which can result in neglecting to acknowledge a portion of risks. This could understate expenditures and therefore overstate earnings, that may result in accounting and reporting abnormalities and ultimately fraudulent activity. A/P automation provides a total audit trail of every step in the process, and lets management click here to promptly resolve potential difficulties.

Please Customers
Your suppliers prefer website a more effective payment method. Easier payments result in savings and savings for you. Whenever you pay your customers with virtual card, which is a single issued credit card for a one-time use, you generate monthly cash back incentives. It’s mutually beneficial 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
Avoid error, delay, and pointless costs with an automated A/P process. A/P problems are costly and use up many resources to manually clear up. With payment automation, you will see where, when and why issues happened. In contrast to the manual method, with automation you’ll be able to methodically address and eliminate errors to boost quality.
A/P payment automation can save you cash, earn you extra profit, reduce the risks of fraud, get your operations increased transparency, fulfill the customers’ needs, and boost the total quality of your A/P processes.

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