Save time, money, and resources with AP Automation

Defining AP Automation

In technical terms, Accounts Payable automation (AP Automation) refers to the technology used to streamline and automate accounts payable processes, removing manual tasks and providing better visibility and control over important financial data.

AP Automation isn’t just a piece of software you install on your computer, it’s a set of connected tools that work as one unified solution to simplify your organization’s processes.

What tools are used in AP Automation?

By implementing AP Automation, your organization can:

  • Decrease invoice processing costs from as high as $40 per invoice to as low as $1.50 per invoice
  • Decrease invoice processing time from 23 days to 3 days
  • Reduce delays in approvals for non-P.O. based invoices
  • Capture more early payment discounts
  • Avoid late payment penalties and interest
  • Improve visibility over cash flow and liabilities

When to implement AP Automation

If your organization experiences any of the following, it’s time to invest in an AP Automation solution: 

  • Process 500 or more invoices per month
  • More than 2 full-time AP clerks
  • Invoices processed in more than one location
  • Too many late payment penalties and missing early payment discounts
  • Manual data entry errors
  • Misplaced invoices and other documents take up to much time
  • There is lack of visibility of cash flow

Ready to take on AP Automation? Schedule a demo with us.