Power of PAYBOX®
3 Reasons to Automate Accounts Payable Processes
It’s surprising how many companies have yet to automate accounts payable processes. After all, manual processing is full of drawbacks like inaccurate invoices, slow processing times and more. Sound familiar? If you’re tired of the inefficiencies that accompany manual AP processes, it may be time to consider an automated solution.
Here Are 3 Reasons to Automate Accounts Payable Processes
Accounts payable has a measurable impact on your business, which is why you can’t afford to have a lax AP processing strategy. Unlike manual processing, automation results in better cash flow forecasting, stronger financial performance and increased company growth.
You’re hesitant about leaving behind your company’s legacy processes, and that’s okay. But before you rule it out completely, here are three reasons to automate accounts payable processes:
- Increase payments security & reduce fraud. With minimal or no security in place, paper invoices are at high risk for unauthorized viewing, putting both you and your suppliers at risk for potential data theft. An automated solution mitigates these risks, deploying robust levels of encryption to protect buyer, supplier and vendor information. Additionally, users have to go through several layers of verification before paying, reducing the possibility of payment fraud.
- Provide better service for suppliers and vendors. Going back and forth on invoice information and dispute management is time consuming and frustrating for everyone, and can have a negative impact on your working relationships. The benefit of having an automated platform is that it provides a web-based portal that you, your supplier and vendors can log on to. You can view invoices, submit discounts for early payments and handle disputes. This helps you provide the best service possible – and keep everyone happy.
- Gain Improved Visibility Into Financial Performance. Tracking financial performance and progress through paper reports is a nightmare. Data isn’t organized efficiently and information isn’t recorded in real time. When you automate accounts payable processes, data is consistently tracked and managed, giving you real-time visibility into the financial health of your organization. Up-to-the-minute information keeps you on top of financial strategies, allowing you to make more informed decisions.
It’s Time to Automate Accounts Payable Processes
If you want to successfully fund company growth and improve financial performance, you can’t stick to antiquated AP processes. The good news is that you don’t have to take on automation alone. Direct Insite has made automated accounts payable processes easier than ever before with PAYBOX® AP. A cloud-based, platform for AP and procure-to-pay processes, PAYBOX® AP can transform your AP strategies and deliver immediate, tangible benefits to your financial organization.
Don’t wait another day to automate accounts payables. Contact Direct Insite today to learn more.