Improve Payments With AP Solutions

Top Reasons to Automate Accounts Payable

While technology makes Accounts Payable payment automation simple for a lot of businesses, 60 percent of companies in the United States are not aware of the numerous benefits of A/P automation. Leveraging software to implement the process in manner that is seamless and effortless, here are our top 5 reasons to automate.

Cash Optimization
Accounts Payable automation enables A/P to correctly project its pending cash requirements, therefore getting rid of guess work. With better transparency from A/P automation, awareness into the system allows your A/P department to deal with tasks and things which will impact your department with value add actions.

Enhance central controls
A manual A/P method is susceptible to fraudulent activity. You raise the threats of human oversight, late payments, missing invoices, and the dreaded rush invoices. An automated A/P process embeds controls that put a stop to and deter fraudulent activity.

Enhance Exposure
The outdated manual process suffers from lack of awareness, wherein can result in failing to identify a portion of liabilities. This can understate expenditures and therefore overstate revenue, which could result in accounting and reporting abnormalities and ultimately fraud. A/P automation offers a complete audit trail of each and every part of the process, and permits management to quickly handle possible issues.

Please Clients
Your vendors prefer a more beneficial payment method. More efficient payments result in special offers and cost savings for you. When you pay your clients by means of virtual card, which is an individual issued card for a one-time use, you receive monthly cash rebates. It’s collectively beneficial for Accounts Payable and Accounts Receivable. Your customers experience more efficient, streamlined payments and your A/P Department pivots to a revenue generator.

Improve Quality
Avoid error, delay, and unnecessary costs with an automated A/P process. website A/P mistakes are costly and use up many resources to manually handle. With payment automation, you see where, when and why errors happened. Unlike the manual process, with automation you’ll be able to systematically address and eliminate problems to boost quality.
A/P payment automation can save you cash, earn you extra income, decrease the risks of fraudulent activity, get your operations more transparency, meet the customers’ demands, here and click here advance the total quality of your A/P processes.

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