Blog

As a manager, you know better than anyone that time is money, efficiency is the name of the game, and all those other clichés about digitizing being the wave of the future. So why is your team still handling accounts payable with the same old paper-heavy processes?

AP automation can quickly transform the way you do business if it is implemented properly based on your business needs and rules. The first step is to identify the specific issues and sticking points that are slowing your AP process down. Once you know exactly what’s going wrong during invoice processing, you can solve the issues and work toward a better, more efficient process.

For companies that want to improve their bottom lines, continuously reassessing and upgrading key business processes is crucial. When deciding which processes to improve to get the best ROI, the accounts payable department is a good place to start because its functions impact every department in addition to the bottom line.

AP automation can help you improve efficiency, reduce costs, and create transparency within your business processes. You'll need a solid plan that allows you to analyze your existing processes and put new and improved automated workflows in place. Turning your goals into SMART goals will allow you to track progress and add structure to your projects so you can get excellent ROI right from the start.

Streamlining invoice processing with workflow automation can help you save a significant amount of time and money. Compared to manual invoice processing, an automated invoice flow accelerates approval times, increases data accuracy, and cuts down the cost of invoice preparation.

Different day. Same repetitive business tasks. From opening letters to filing documents and manually entering data into your ERP system, many valuable hours are wasted on activities that don’t benefit your bottom line or fully utilize the talents of your employees. In fact, as you think about all the repetitive work happening day after day, doesn’t it remind you a little of the movie Groundhog Day?

AP automation speeds up invoice processing and allows companies to handle a higher volume of documents than would otherwise be possible. But beyond speed and volume improvements, accounts payable automation also provides benefits in other areas that positively impact a business’ bottom line.