The Rundown on AP Automation Solutions

The latest wave of technology hitting corporate accounts payable departments is AP automation solutions. In an effort to leave antiquated, inefficient processes behind, organizations and enterprises are leveraging top-tier automation platforms to streamline day-to-day AP responsibilities.

Are AP Automation Solutions Right for My Organization?

Manual, paper-based accounts payable processes are not doing your organization and department employees any favors. If you’ve stuck with traditional processing methods, you’re likely familiar with:

  • Invoices containing inaccurate information
  • High operating costs associated with invoice presentment and distribution
  • Weak working capital management and difficulty forecasting cash flow

AP automation solutions transform the way you handle accounts payable processes, translating into a stronger management strategy for your organization. If you’ve been plagued by issues related to manual processing, you’ll find the features of an automated platform to be a huge game changer for your business.

  • Electronic Invoice Presentment – You’re paying at least $7 per paper invoice, not including postage and mailing fees – or reprinting costs if invoices contain information errors. AP platforms automatically generate and present invoices to vendors and suppliers, resulting in simpler invoice validation and acceptance, as well as lowering invoice costs.

  • Report Generation – Treasurers and CFOs rely on reports to track working capital, which is unorganized and nearly impossible to do with paper reports. An automated solution generates reports that reflect real-time financial metrics, improving the C-suite’s ability to analyze spend patterns, negotiate payment cycles with suppliers and forecast company cash flow.

  • Self-Service Supplier Portal – Registering suppliers and vendors is tedious, and the process is delayed if information is incomplete. AP automation solutions leverage self-service registration and user portals, allowing your suppliers to securely log on and register, view invoices and submit inquiries. Additionally, a user-friendly portal that reduces the time spent going back-and-forth on issues improves your working relationship with suppliers and vendors.

  • Dispute Management – Invoice disputes are common, but how you handle those disputes directly affects your working relationship with suppliers moving forward. An automated platform enables users to submit their disputes, routing the issue to the appropriate AP department member for review and resolution.

The Time for AP Automation Solutions Is Now

A lack of efficient accounts payable solutions is costing your business. You need a reliable automated AP platform that increases operational efficiency, without increasing workload. Direct Insite’s PAYBOX® AP is the perfect solution. A strategic tool for your company’s accounts payable processes, PAYBOX® AP is a highly secure, compliant and scalable solution, with features that transform your organization’s AP department.

Don’t wait any longer to get onboard with AP automation solutions. Contact Direct Insite today to get started.

AP Strategies