Find Out How AP Solutions Can Transform Your Business

Top Reasons to Automate Accounts Payable

While tech makes Accounts Payable payment automation a standard for a lot of organizations, 60 percent of organizations in the US do not know of the numerous advantages to A/P automation. Leveraging software to implement the method in manner that is seamless and trouble-free, here are our best five reasons why you should automate.

Cash Optimization
Accounts Payable automation lets A/P to correctly project its pending cash requirements, therefore removing guesswork. With more transparency from A/P automation, awareness into the process allows your A/P department to focus on tasks and things that will effect your department with value added activities.

Enhance central controls
A manual A/P method is susceptible to fraud. You add to the challenges of human oversight, late payments, missing invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that prevent and discourage fraud.

Boost Exposure
The obsolete manual practice is affected with lack of awareness, in which can result in failing to identify a part of risks. This may understate expenses thereby overstate income, which could cause accounting and reporting malfunctions and ultimately fraud. A/P automation produces a total audit trail of each step in the process, and lets management to quickly deal with potential complications.

Satisfy Customers
Your suppliers want ap automation a more beneficial payment process. Easier payments result in discount rates and savings for you. Whenever you pay your clients with virtual card, which is a single issued card for a one-time use, you will earn monthly cash back incentives. It’s mutually beneficial for Accounts Payable and Accounts Receivable. Your customers benefit from more efficient, streamlined payments and your A/P Department pivots to a cash generator.

Enhance Quality
Prevent error, delay, and unnecessary costs with an automated A/P process. A/P errors can be very expensive and take many resources to manually resolve. With payment automation, you can see where, when and why problems took website place. In contrast to the manual method, with automation you’ll be in a position to methodically address and get rid of problems to increase quality.
A/P payment automation can help you save cash, earn you extra income, reduce the risks of fraudulent activity, get your operations increased transparency, satisfy the customers’ needs, and enhance the total quality of your A/P processes.

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