Power of PAYBOX®
3 Surprising Benefits of AP Automation
The hype over AP automation solutions has continued to grow, with more and more corporations trading in manual accounts payable processing for an automated solution that accelerates and streamlines department responsibilities.
Your accounts payable strategies are directly tied to the financial health of your organization. Ineffective and inefficient processes are hurting your company, and can have detrimental effects in the long run.
Benefits Delivered From AP Automation
The role accounts payable has on your business is huge, so a half-baked strategy and lax processing methods aren’t going to cut it. Automating your organization’s accounts payable functions takes complex, time-intensive processes, and turns them into faster, simpler tasks – not to mention, AP automation delivers significant value to your company:
- An automated platform improves relationships with suppliers and vendors. You value your relationships with suppliers and vendors, but slow invoicing and payment processing leaves you and your partners frustrated. An automated platform typically hosts all capabilities on a cloud-based platform that you and your suppliers can log in to 24/7. Need to view a new invoice? Check. Supplier has an inquiry they’d like to submit? Done. Automation makes AP practices easier for everyone, allowing you to continue fostering strong relationships.
- You’ll get increased visibility into cash flow and working capital. When your AP processes are paper-based, so is your reporting. And effectively tracking financial progress and metrics through paper reports is less than ideal. But when you use AP technology, all of the information fed into the platform is consistently tracked – and you can choose which reports you want generated. The constant flow of real-time information means you’re able to strategize and plan for your financial future.
- AP Automation leads to stronger security and data protection. The last thing you want to deal with is a security data breach that compromises you and your suppliers. With little or no safeguards in place, paper-based AP processing puts both parties at risk. Why take the chance? An automated AP platform deploys high-level security encryption, requiring users to go through several layers of authentication to guarantee protection against payment fraud.
Meet PAYBOX® AP, the Comprehensive AP Automation Solution
AP automation doesn’t have to be complicated. In fact, it should be the opposite. AP technology should make your work day easier and hassle-free. Direct Insite’s platform, PAYBOX ®AP, is meant to do just that. A cloud-based platform for procure-to-pay and AP processes, PAYBOX® AP delivers solutions to your organization that will change the way you handle accounts payable:
- Electronic invoice receipt provides a variety of options for invoice submission and processing.
- Supplier registration and inquiry lets users complete self-registration and manage profiles.
- Discount management enables suppliers to submit early payment discounts.
- A full suite of reports makes it easier for treasurers and CFOs to track working capital.
Simple. Scalable. Strategic. That’ the Direct Insite way. To learn more about our AP automation tools, contact us today.