Find Out How AP Solutions Can Transform Your Business

Top Reasons Why You Should Automate Accounts Payable

While technology has made Accounts Payable payment automation a standard for a lot of corporations, 60 percent of businesses in the United States are unaware of the many benefits associated with A/P automation. Leveraging software to apply the process in manner that is seamless and convenient, here are our best 5 reasons to automate.

Cash Optimization
Accounts Payable automation enables A/P to accurately project its outstanding cash specifications, therefore removing guesswork. With more transparency from A/P automation, visibility into the process allows your A/P department to concentrate on activities and things that can effect your department with value added actions.

Improve central controls
A manual A/P method is prone to fraud. You add to the risks of human oversight, late payments, missing invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that avoid and deter fraudulent activity.

Optimize Exposure
The obsolete manual process is affected with lack of awareness, in which can result in neglecting to acknowledge a portion of liabilities. This can understate expenses and therefore overstate income, which can result in accounting website and reporting abnormalities and ultimately fraud. A/P automation delivers an entire audit trail of each part of the accounts payable solutions method, and allows management to promptly correct possible issues.

Satisfy Clients
Your suppliers prefer a more beneficial payment process. Easier payments result in discounts and cost savings for you. When you pay your customers by means of virtual credit card, which is an individual issued credit card for a one-time use, you will earn monthly cash back incentives. It’s jointly beneficial for Accounts Payable and Accounts Receivable. Your clients experience more efficient, streamlined payments and your A/P Department pivots to a income generator.

Enhance Quality
Prevent error, more info delay, and avoidable costs with an automated A/P process. A/P problems are costly and use up many resources to manually remedy. With payment automation, you see where, when and why faults happened. Unlike the manual method, with automation you’ll be able to methodically address and eliminate issues to boost quality.
A/P payment automation will save you cash, earn you extra revenue, decrease the risks of fraud, get your operations greater transparency, satisfy the customers’ needs, and enhance the total quality of your A/P processes.

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