Improve Payments With Accounts Payable Automation

Top Reasons Why You Should Automate Accounts Payable

Although technology has made Accounts Payable payment automation indispensable for a number of organizations, 60 % of corporations in the United States are not aware of the many benefits of A/P automation. Leveraging software applications to implement the method in manner that is seamless and convenient, the following are our major five reasons to automate.

Cash Optimization
Accounts Payable automation allows A/P to correctly project its outstanding cash requirements, consequently getting rid of guess work. With greater transparency from A/P automation, awareness into the process allows your A/P department to concentrate on tasks and things that will effect your department with value added activities.

Enhance central controls
A manual A/P process is susceptible to fraudulent activity. You multiply the challenges of human oversight, late payments, lost invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that stop and discourage fraud.

Maximize Exposure
The outdated manual practice suffers from insufficient visibility, by which can result in neglecting to acknowledge a segment of liabilities. This can understate operating expenses thereby overstate revenue, which can contribute to accounting and reporting malfunctions and ultimately fraudulent activity. A/P automation provides an entire audit trail of every step in the method, and enables management to promptly handle potential complications.

Please Customers
Your suppliers want a more beneficial payment method. More efficient payments result in discounts and savings for you. Whenever you pay your clients with virtual card, which is a single issued card for a one-time use, you receive monthly cash back more info 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 income generator.

Improve Quality
Avoid error, delay, and needless costs with an automated A/P process. A/P mistakes can be very expensive and take many resources to manually solve. With payment automation, you can see where, when and why problems took place. Contrary to the manual procedure, with automation you’ll be in a position to methodically address and reduce issues to accounts payable automation boost quality.
A/P payment automation will save you cash, earn you additional cash, lessen the risks of fraudulent activity, get your operations more transparency, fulfill your customers’ demands, and enrich the overall quality of your A/P processes.

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