It is wildly important for Accounts Payable departments to be organized and efficient, because every company needs to buy and sell in order to stay in business. Automating the AP process can improve overall speed, efficiency, control and visibility of operations. With AP automation, your company can become more strategic, by utilizing fewer resources and cutting unnecessary costs. Let’s explore the top five reasons to automate AP processing:

1. Gain Visibility & Compliance: An automated AP workflow can allow greater visibility into processing for improved payment decisions and scheduling. Automated document history logs help provide process visibility, while complying with federal regulations.

2. Automation Cuts Costs: Process automation dramatically reduces costs, equipment and storage requirements of physical paper management. Digital AP automation eliminates paper and reduces staff resources to avoid costly processing mistakes. Daily tasks are simplified, allowing staff members to repurpose their time for responsibilities of higher importance.

3. Become More Productive: Automated workflows accelerate invoice processing by providing a step-by-step view of the complete purchase-to-pay process. This includes automating the receipt, keying, and approval process. For example, managers are automatically notified when an invoice is in need of attention, helping them to stay more productive.

4. Reduce Errors & Improve Quality: AP automation eliminates manual indexing errors and ensures no document is lost or misfiled. Users can have invoices automatically indexed the moment they are received to guarantee accurate and timely payments.

5. Avoid Late Payment Penalties: Respond to payment inquires in real time to avoid unnecessary late payments. An effective AP automation strategy helps maintain strong vendor relationships by bringing payment processes under close control.

Simplicity Can Be a Reality

Automated AP processing enables stronger internal controls, improved quality, reduced payment errors and more.  AP automation streamlines accounting operations from purchase through payment.