Find Out How Accounts Payable Automation Can Transform Your Business

Top Reasons Why You Should Automate Accounts Payable

Even though modern technology has made Accounts Payable payment automation indispensable for a lot of corporations, 60 percent of corporations in the United States do not know of the numerous benefits of A/P automation. Leveraging software to utilize the method in manner that is seamless and effortless, here are our major 5 reasons to automate.

Cash Optimization
Accounts Payable automation enables A/P to correctly project its pending cash specifications, therefore getting rid of guess work. With greater transparency from A/P automation, visibility into the system allows your A/P department to deal with activities and priorities which will effect your department with value add activities.

Reinforce internal controls
A manual A/P method is subject to fraudulent activity. You raise the risks of human oversight, late payments, missing invoices, and the dreaded rush invoices. An automated A/P process embeds controls that prevent and deter fraudulent activity.

Enhance Exposure
The outdated manual method is affected with insufficient awareness, through which can result in failing to realize a part of risks. This could understate operating expenses as well as overstate earnings, which could contribute to accounting and reporting irregularities and ultimately fraudulent activity. A/P automation produces an entire audit trail of each step in the method, and allows management to promptly resolve possible complications.

Please Clients
Your vendors would like a more efficient payment process. More efficient payments result in discounts and cost savings for read more you. Whenever you pay your clients by means of virtual credit card, which is a single issued card for a read more one-time use, you earn monthly cash rebates. It’s mutually beneficial for Accounts Payable and Accounts Receivable. Your customers experience more efficient, seamless payments and your A/P Department pivots to a income generator.

Enhance Quality
Prevent error, delay, and needless costs with an automated A/P process. A/P problems are expensive and use up many resources to manually solve. With payment automation, you will see where, when and why issues happened. In contrast to the manual method, with automation you’ll have the ability to methodically address and get rid of problems to increase quality.
A/P payment automation will save you cash, earn you additional cash, lessen the risks of fraudulent activity, get your operations increased transparency, meet the customers’ needs, and enhance the overall quality of your A/P processes.

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