Find Out How AP Solutions Can Transform Your Business

Top Reasons to Automate Accounts Payable

While tech has made Accounts Payable payment automation simple for numerous organizations, 60 % of companies in the US do not know of the many benefits associated with A/P automation. Leveraging software programs to implement the process in manner that is seamless and effortless, here are our main 5 reasons why you should automate.

Cash Optimization
Accounts Payable automation lets A/P to accurately project its pending cash requirements, therefore eliminating guesswork. With more transparency from A/P automation, awareness into the process allows your A/P department to give attention to tasks and priorities that will effect your department with value add activities.

Enhance internal controls
A manual A/P process is susceptible to fraud. You add to the issues of human oversight, overdue payments, lost invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that reduce and deter fraudulent activity.

Boost Awareness
The outdated manual method suffers from lack of awareness, by which can result in neglecting to realize a portion of liabilities. This can understate operating expenses thereby overstate income, which can trigger accounting and reporting malfunctions and ultimately fraud. A/P automation delivers a complete audit trail of every step in the method, and enables management to swiftly handle possible problems.

Satisfy Customers
Your suppliers would like a more effective payment method. Easier payments result in special offers and savings for you. more info When you pay your customers with virtual credit card, which is an individual issued card for a one-time use, you earn monthly cash rebates. It’s jointly beneficial for Accounts Payable and Accounts Receivable. Your clients benefit from more efficient, seamless payments and your A/P Department pivots to a cash generator.

Improve Quality
Avoid error, delay, click here and pointless costs with an automated A/P process. A/P problems are costly and take many resources to manually fix. With payment automation, you will see where, when and why faults transpired. Contrary to the manual process, with automation you’ll be in a position to systematically address and get rid of errors to boost quality.
A/P payment automation can help you save cash, earn you extra cash, lessen the risks of fraudulent activity, provide your operations better transparency, satisfy the customers’ needs, and boost the overall quality of your A/P processes.

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