Find Out How AP Solutions Can Transform Your Business

Top Reasons to Automate Accounts Payable

While technology has made Accounts Payable payment automation simple for a lot of corporations, 60 percent of companies in the US are unaware of the countless advantages to A/P automation. Leveraging software programs to utilize the process in manner that is seamless and trouble-free, the following are our major five reasons to automate.

Cash Optimization
Accounts Payable automation allows A/P to accurately project its pending cash requirements, therefore eliminating speculation. With more transparency from A/P automation, awareness into the system allows your A/P department to concentrate on tasks and priorities that can impact your department with value add actions.

Enhance internal controls
A manual A/P method is at risk of fraud. You raise the risks of human error, late payments, lost invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that stop and discourage fraudulent activity.

Enhance Exposure
The obsolete manual process suffers from insufficient awareness, through which can result in neglecting to identify a segment of liabilities. This can understate expenses and therefore overstate revenue, which could lead to accounting and reporting abnormalities and ultimately fraudulent activity. A/P automation provides a total audit trail of each part of the process, and makes it possible for management to swiftly fix possible troubles.

Please Customers
Your vendors want a more effective payment process. More efficient payments result in discount rates and savings for you. Whenever you pay your customers via virtual credit card, which is a single issued credit card for a one-time use, you generate monthly cash rebates. It’s jointly beneficial for Accounts Payable get more info and Accounts Receivable. Your clients benefit from more efficient, seamless payments and your A/P Department pivots to a cash generator.

Improve Quality
Prevent error, delay, and avoidable costs with an automated A/P process. A/P errors are costly and use up many resources to manually handle. With payment automation, you can see where, when and why faults happened. Contrary to the manual process, with automation you’ll be in a position to systematically address and eliminate problems to improve check here quality.
A/P payment automation can save click here you cash, earn you extra cash, reduce the risks of fraud, bring your operations more transparency, satisfy the customers’ needs, and improve the overall quality of your A/P processes.

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