For many businesses, investing in one more technology solution might seem unnecessary and change can create strain on a business. But with the benefits and cost effectiveness of AP Automation, accounting decision makers should not hesitate to automate payments.
You may be getting by without AP automation, but once you implement an AP solution, you’ll be asking why you waited so long. First let’s take a look at what AP looks like without automation:
- Re-keying invoice data into spreadsheets by hand
- Printing paper checks
- Waiting on vendors to cash paper checks
- Chasing down CFOs and managers for approval signatures
- Manual Coalition
- Manual filing and paper file storage
- Stuffing envelopes and waiting on snail mail
You may be thinking that the above AP hurdles are just part the job, and you are getting by fine. But what if you could do more than just get by? What if you could save time on accounts payable processing to take the headache out of month end and focus more resources on other accounting processes. What if your business is growing--are the above manual process scalable to meet the needs of the organization as it grows?
With the right AP automation solution in place, you will gain agility and efficiency so you are able to not only get by, but accelerate into the future and drastically reduce the strain of month-end crunch.
Now let’s look at what AP can look like with automation:
- Automated capture of invoices
- Automated workflow for invoice & payment approvals
- Anytime-anywhere approvals
- Flexible payment mehtod options including same-day ACH
- Audit traceability
- Multi-entity management integration
- Seamless integration into your ERP or accounting software
With these benefits you will be able to scale to meet the needs of a rapidly growing business without growing your payable department, and you will ask yourself…
“Why didn’t I automate payments sooner?”