Power of PAYBOX®
Why You Need Automation to Improve Purchase-to-Pay Procedures
Corporate accounts payable departments face a unique challenge when it comes to paper-based purchase-to-pay cycles. It’s increasingly difficult for businesses to gain visibility into the financial supply chain and control cash flow when using manual purchase-to-pay methods.
It’s time to leave outdated, antiquated and inefficient paper-based AP methods behind, and take on a simpler, more reliable solution.
The Benefits of Automating Purchase-to-Pay Procedures
Think your purchase-to-pay practices can do without automation? Think again. Automated AP processes have the potential to completely change how your organization handles accounts payables, and delivers a variety of operational benefits to your overall accounts payable strategy:
- Lower Operating Costs – Take a look at your yearly business expenses, and it’s likely that paper-based AP processes are eating up financial resources. Manual invoices and purchase orders can run upwards of $7 per document, not including mailing and postage fees. An automated accounts payable solution that creates electronic invoices and purchase orders saves more than 50 percent on presentment and distribution fees. That’s money you can reinvest in other areas of the business.
- Stronger Relationships With Suppliers and Vendors – Invoice inaccuracies and errors are more likely to lead to disputes, which can seriously harm long-term relationships with suppliers and vendors. Since automated AP technology pulls information from a supplier database, chances of entry errors are minimal. And in the event of a contested invoice, an easy-to-use web portal guides both you and vendors through a simple dispute resolution system – and keeps everyone happy.
- Greater Visibility into Assets – Paper-based purchase-to-pay methods make it nearly impossible for CFOs and company treasurers to gain access to performance information. This happens because:
- Reporting systems don’t integrate with existing company software.
- Data is poorly organized and hard to find on paper reports.
- Information is not presented in real-time.
An automated accounts payable solution with robust reporting generates up-to-the-minute reports on topics like customer usage, cash analyses and aging reports.
Take Your Purchase-to-Pay Procedures to the Next Level
Cash is the lifeblood of any business. Yet too many corporate AR departments get bogged down in manual, paper-based purchase-to-pay strategies, and seriously harm their financial supply chains.
Don’t be one of those companies. Get on board with PAYBOX® AP
Designed to transform complex account payables and purchase-to-pay processes, PAYBOX® AP makes it easier than ever to create invoices and purchase orders, handle dispute resolution and generate performance reports.
Secure. Scalable. Compliant. That’s the Direct Insite way. To learn more about PAYBOX® AP or request a free demo, contact us today.