Improve Payments With AP Automation

Top Reasons to Automate Accounts Payable

While technology makes Accounts Payable payment automation indispensable for a number of companies, 60 % of corporations in the US are unaware of the countless benefits associated with A/P automation. Leveraging software to implement the process in manner that is seamless and easy, listed here are our best five reasons why you should automate.

Cash Optimization
Accounts Payable automation allows A/P to correctly project its pending cash specifications, accordingly eliminating estimation. With more transparency from A/P automation, awareness into the process allows your A/P department to concentrate on activities and things which will impact your department with value add activities.

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

Maximize Awareness
The obsolete manual practice is affected with insufficient awareness, in which can result in neglecting to recognize a portion of liabilities. This may understate expenses and therefore overstate earnings, which could contribute to accounting and reporting irregularities and ultimately fraudulent activity. A/P automation produces an entire audit trail of each part of the method, and permits management to promptly fix potential difficulties.

Satisfy Clients
Your suppliers want a more effective payment process. More efficient payments result in discount rates and savings for you. Whenever you pay your clients with virtual credit card, which is a single issued credit card for a one-time use, you receive monthly cash rebates. It’s collectively good for Accounts Payable and Accounts Receivable. Your clients experience more efficient, seamless payments and your A/P Department pivots to a ap automation profit generator.

Improve Quality
Avoid error, delay, and unnecessary costs with an automated A/P process. A/P mistakes are costly and consume many resources to manually here solve. With payment automation, you will see where, when and why issues happened. In contrast to the manual method, with automation you’ll have the ability to methodically address and get rid of errors to improve quality.
A/P payment automation can help you save cash, earn you extra cash, lessen the risks of fraudulent activity, get your operations more transparency, fulfill your customers’ needs, and improve the total quality of your A/P processes.

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