Benefits of AP Automation

Top Reasons to Automate Accounts Payable

Even though modern technology has made Accounts Payable payment automation a standard for numerous organizations, 60 % of organizations in the USA are unaware of the countless advantages to A/P automation. Leveraging software to apply the method in manner that is seamless and easy, the following are our top 5 reasons to automate.

Cash Optimization
Accounts Payable automation allows A/P to accurately project its outstanding cash requirements, accordingly removing speculation. With increased transparency from A/P automation, awareness into the process allows your A/P department to deal with tasks and things that will effect your department with value add activities.

Enhance internal controls
A manual A/P process is subject to fraudulent activity. You add to the pitfalls of human error, late payments, lost invoices, and the dreaded rush invoices. An automated A/P process embeds controls that avoid and discourage fraud.

Optimize Exposure
The obsolete manual process is affected with insufficient awareness, in which can result in neglecting to acknowledge a part of risks. This may understate expenses and therefore overstate income, that may contribute to accounting and reporting malfunctions and ultimately fraudulent activity. A/P automation produces a whole audit trail of each and every part of the process, and enables management to promptly handle possible issues.

Satisfy ap automation Clients
Your suppliers want a more efficient payment process. More efficient payments result in discounts and savings for you. When you pay your customers via virtual credit card, which is a single issued credit card for a one-time use, you receive monthly cash rebates. It’s equally good for Accounts Payable and Accounts Receivable. Your clients experience more efficient, streamlined payments and your A/P Department pivots to a income generator.

Improve Quality
Avoid error, delay, and unnecessary costs with an automated A/P process. A/P problems can be very expensive and use up many resources to manually solve. With payment automation, you see where, when and why issues took place. Unlike the manual process, with automation you’ll be in a position to methodically address and reduce issues to improve quality.
A/P payment automation can save you cash, earn you extra earnings, decrease the risks of fraud, get your operations greater transparency, satisfy your customers’ needs, and here boost the overall quality of your A/P processes.

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