100+ Reasons Why You NEED Accounts Payable Automation
Did you know Accounts Payable Automation has something to offer everyone across the company.
- CFO's & Finance Executives: By leveraging AP Automation finance execs are able to reduce costs while taking advantage of freed up resources that can affect the bottomline and assist in strategic and corporate growth.
- Corporate Controllers: Can gain better visibility and control, while leveraging KPI's and analytics via real-time AP Dashboards to measure performance and monitor cash flow.
- Accounts Payable Teams: Will now be able to eliminate paper invoices and manual back and forth. The AP department will now have "ultimate control" over the processing of supplier invoices. The AP process is streamlined by electronically routing, coding, matching supplier invoices through your pre-defined set of accounting rules. Because we connect payables with your ERP there is no more manual data entry. All invoices in one system with real-time visibility and control.
- CIO/CTO & Technical Staff: No licensing to buy, no software to manage no technology to worry about.
- Accountants & Research Staff: Instant access to view and research supplier invoices from any computer by authorized staff.
- Invoice Approvers: Anyone who needs to review and approve a vendor invoice can easily do so from any device, anywhere in the world.
- Completely eliminate paper invoices
- Eliminate the manual handling of mailed invoices
- Free up AP Staff from printing emailed invoices
- Allow supplier to submit invoices in a wider variety of formats
- Apply validations to your AP invoices
- Gain visibility to your vendor invoices
- Gain control of your vendor invoices
- Prevent invoices from getting lost or misplaced
- Take advantage of automatic routing of vendor invoices
- Rules based workflow routing ensures vendors invoices get to the correct person the first time
- Take advantage of automatically assigning the GL coding on Non-PO invoices
- Apply GL coding rules
- Restrict and limit GL codes based on variables
- Use AP Dashboards to manage the entire payable process start to finish
- Enforce your financial policies and practices
- Add security and controls
- Take advantage of automated purchase order matching
- Ensure line-level matching is performed accurately
- Match PO invoices two-way
- Match PO invoices three-way
- Match PO invoices four-way
- Perform trend analysis through reporting
- Gain insights through KPI’s
- Monitor your DSO
- Measure your payables health
- Integrate the payable process with your ERP system
- Eliminate manual data entry
- Apply and enforce tax rules
- Apply and enforce freight rules
- Apply and enforce variances
- Automatically sort invoices
- Automatically escalate invoices
- Automatically prioritize invoices
- Automatically categorize invoices by invoice type
- Automatically categorize invoices by expense type
- Automatically distribute invoices for processing
- Provide accounts payable staff more control than ever before
- Allow AP Staff to stop, review, analyze and invoice at any stage
- Add notes and annotations to any invoice along the way
- Add important backup items and supporting documents
- Ensure discount vendors invoices are processed timely
- Ensure vendor discounts opportunities are not missed
- Assure that all invoices receive proper approvals
- Send automatic reminders to approvers
- Automatically escalate vendor invoices as necessary
- Ensure no invoice goes untouched
- Allow approvers to approve from any device
- Allow approvers 24 x 7 access to approve invoices
- Enforce dollar authority approval limits
- Prevent duplicate invoices from being processed
- Prevent fraudulent invoices from being processed
- Utilize a rules-based exception handling process
- Prevent invoices with errors from being paid
- Better exception processing of problem invoices
- Allow approvers to easily approve invoices
- Allows approvers to approve from anywhere, any time of day
- Allow for timely payments of vendor invoices
- Gain complete visibility to the lifecycle on all vendor invoices
- Get a complete audit trail of the lifecycle of all vendor invoices
- Ensures a backup of all invoices and data
- Maintain SOX compliance
- Streamline annual audits
- Streamline tax audits
- Eliminate late payments
- Prevent being put on credit hold
- Faster, more efficient month-end closes
- Faster, more efficient quarter-end closes
- Faster, more efficient year-end closes.
- Faster more efficient accruals reporting
- Eliminate paper filing
- Eliminate paper folders
- Eliminate archive file boxes
- Eliminate the year-end shift of paper files
- Eliminate offsite storage
- Reduce long term offsite storage costs
- Reduce and eliminate vendor inquiries
- Automatically notify vendors about invoice status
- Removes any bottlenecks from your payables process
- Manage you accounts payable process from a single interface
- Increase the accuracy of invoice processing
- Eliminate human error
- Eliminate non-essential tasks
- Reduce labor required to process invoices
- Gain faster cycle times
- Gain better cash flow and control
- Grow your business without the need to add labor
- Improve the bottom line of your company
- Embrace new up-to-date processes
- Leverage proven technologies
- Prove yourself as a leader within your organization
- Allow payables staff to focus on financial related tasks
- Allow key staff to instantly access an authorized invoice
- Allow different locations to access authorized invoices
- Allow critical staff to access invoices from anywhere in the world
- Improve employee morale by embracing new approach to outdated processes
- Improve vendor relationships by making it easier on them
- Leverage real-time payables dashboards
- Ensures payables process is optimized for growth
- Make better business decisions
- Reduce costs and save money