Find Out How Accounts Payable Automation Can Transform Your Business

Top Reasons Why You Should Automate Accounts Payable

Although modern technology makes Accounts Payable payment automation simple for numerous organizations, 60 % of companies in the US do not know of the countless benefits of A/P automation. Leveraging software to apply the method in manner that is seamless and effortless, the following are our main five reasons why you should automate.

Cash Optimization
Accounts Payable automation allows A/P to correctly project its outstanding cash specifications, accordingly eliminating uncertainty. With better transparency from A/P automation, awareness into the system allows your A/P department to give attention to activities and priorities which will impact your department with value added actions.

Enhance internal controls
A manual A/P method is vulnerable to fraudulent activity. You multiply the challenges of human error, overdue payments, missing invoices, and the dreaded rush invoices. An automated A/P process embeds controls that reduce and discourage fraud.

Improve Awareness
The outdated manual method suffers from lack of visibility, through which can result in neglecting to acknowledge a segment of risks. This could understate expenses and therefore overstate income, that may lead to accounting and reporting malfunctions and ultimately fraudulent activity. A/P automation offers a total audit trail of each and every part of the process, and permits management to swiftly handle potential complications.

Please Clients
Your suppliers want a more beneficial payment method. Easier payments result in deals and cost savings for you. If you pay your customers with virtual credit card, which is an individual issued credit card for a one-time use, you earn monthly cash rebates. It’s jointly beneficial for Accounts Payable and Accounts Receivable. Your customers benefit from more efficient, seamless payments and your A/P Department pivots to a revenue generator.

Enhance Quality
Prevent error, read more delay, and unnecessary costs with an automated A/P process. A/P mistakes are costly and consume many resources to manually fix. With payment automation, you can see where, when and why problems took place. In contrast to the manual process, with automation you’ll have the ability to methodically address and eliminate errors to improve quality.
A/P payment automation can help you save cash, earn you extra revenue, reduce the risks of fraudulent activity, get your operations greater transparency, satisfy your customers’ needs, and boost the total quality of your A/P processes.

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