Benefits of AP Automation

Top Reasons to Automate Accounts Payable

Even though modern technology has made Accounts Payable payment automation indispensable for many corporations, 60 percent of businesses in the US are not aware of the many advantages of A/P automation. Leveraging software programs to apply the method in manner that is seamless and trouble-free, the following are our major five reasons to automate.

Cash Optimization
Accounts Payable automation lets A/P to accurately project its pending cash specifications, accordingly getting rid of uncertainty. With increased transparency from A/P automation, awareness into the process allows your A/P department to deal with activities and priorities which will effect your department with value add actions.

Improve central controls
A manual A/P method is vulnerable to fraud. You raise the pitfalls of human oversight, overdue payments, lost invoices, along with the dreaded rush invoices. An automated A/P process embeds controls that put a stop to and discourage fraud.

Increase Exposure
The obsolete manual practice is affected with insufficient awareness, through which can result in neglecting to identify a part of liabilities. This could understate operating expenses thereby overstate income, which can lead to accounting and reporting irregularities and ultimately fraudulent activity. A/P automation produces an entire audit trail of every part of the process, and permits management to rapidly solve possible troubles.

Satisfy Customers
Your vendors prefer a more beneficial payment method. Easier payments result in special offers and savings for you. Whenever you pay your customers by way of virtual card, which is a single issued card for a one-time use, you will earn monthly cash rebates. It’s equally good for Accounts Payable and Accounts Receivable. Your clients benefit from more efficient, streamlined payments and your A/P Department pivots to a cash generator.

Enhance Quality
Avoid error, delay, and needless costs with an automated A/P process. A/P mistakes are costly and consume many resources to manually clear up. With payment automation, you can see where, when and why problems transpired. Contrary to the manual procedure, with automation you’ll be in a position to methodically address and reduce issues to improve quality.
A/P payment automation can save you cash, earn you extra read more income, reduce the risks of fraud, provide your operations better transparency, satisfy the customers’ demands, and enrich the total quality of your A/P processes.

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