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. 

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Thinking about Accounts Payable Automation Here are 100+ Reasons Why You May NEED AP Automation!

Additional reasons to consider AP Automation... (added April 2020)

• AP Staff is working remotely with limited access
  
• Approvers are working remotely with limited access
• AP Department is shorthanded or understaffed
• Limited or no access to paper invoices in corporate office
• We have no visibility to the status of invoices
• Matching PO invoices remotely is a problem
• The AP Process is falling behind due to all of the above
• We need to be better prepared for the future
• Our competitors using AP Automation are having no issues at all

1. Completely eliminate paper invoices 
2. Eliminate the manual handling of mailed invoices
3. Free up AP Staff from printing emailed invoices
4. Allow supplier to submit invoices in a wider variety of formats
5. Apply validations to your AP invoices
6. Gain visibility to your vendor invoices
7. Gain control of your vendor invoices
8. Prevent invoices from getting lost or misplaced
9. Take advantage of automatic routing of vendor invoices
10. Rules based workflow routing ensures vendors invoices get to the correct person the first time
11. Take advantage of automatically assigning the GL coding on Non-PO invoices
12. Apply GL coding rules
13. Restrict and limit GL codes based on variables
14. Use AP Dashboards to manage the entire payable process start to finish
15. Enforce your financial policies and practices
16. Add security and controls
17. Take advantage of automated purchase order matching
18. Ensure line-level matching is performed accurately
19. Match PO invoices two-way
20. Match PO invoices three-way
21. Match PO invoices four-way
22. Perform trend analysis through reporting
23. Gain insights through KPI’s
24. Monitor your DSO
25. Measure your payables health
26. Integrate the payable process with your ERP system
27. Eliminate manual data entry
28. Apply and enforce tax rules
29. Apply and enforce freight rules
30. Apply and enforce variances
31. Automatically sort invoices
32. Automatically escalate invoices
33. Automatically prioritize invoices
34. Automatically categorize invoices by invoice type
35. Automatically categorize invoices by expense type
36. Automatically distribute invoices for processing 
37. Provide accounts payable staff more control than ever before
38. Allow AP Staff to stop, review, analyze and invoice at any stage
39. Add notes and annotations to any invoice along the way
40. Add important backup items and supporting documents
41. Ensure discount vendors invoices are processed timely
42. Ensure vendor discounts opportunities are not missed
43. Assure that all invoices receive proper approvals
44. Send automatic reminders to approvers
45. Automatically escalate vendor invoices as necessary
46. Ensure no invoice goes untouched
47. Allow approvers to approve from any device
48. Allow approvers 24 x 7 access to approve invoices
49. Enforce dollar authority approval limits
50. Prevent duplicate invoices from being processed
51. Prevent fraudulent invoices from being processed
52. Utilize a rules-based exception handling process
53. Prevent invoices with errors from being paid
54. Better exception processing of problem invoices
55. Allow approvers to easily approve invoices
56. Allows approvers to approve from anywhere, any time of day
57. Allow for timely payments of vendor invoices
58. Gain complete visibility to the lifecycle on all vendor invoices
59. Get a complete audit trail of the lifecycle of all vendor invoices
60. Ensures a backup of all invoices and data
61. Maintain SOX compliance
62. Streamline annual audits
63. Streamline tax audits
64. Eliminate late payments
65. Prevent being put on credit hold
66. Faster, more efficient month-end closes
67. Faster, more efficient quarter-end closes
68. Faster, more efficient year-end closes. 
69. Faster more efficient accruals reporting
70. Eliminate paper filing
71. Eliminate paper folders
72. Eliminate archive file boxes
73. Eliminate the year-end shift of paper files
74. Eliminate offsite storage
75. Reduce long term offsite storage costs
76. Reduce and eliminate vendor inquiries
77. Automatically notify vendors about invoice status
78. Removes any bottlenecks from your payables process
79. Manage you accounts payable process from a single interface
80. Increase the accuracy of invoice processing
81. Eliminate human error
82. Eliminate non-essential tasks
83. Reduce labor required to process invoices
84. Gain faster cycle times
85. Gain better cash flow and control
86. Grow your business without the need to add labor
87. Improve the bottom line of your company
88. Embrace new up-to-date processes
89. Leverage proven technologies
90. Prove yourself as a leader within your organization
91. Allow payables staff to focus on financial related tasks
92. Allow key staff to instantly access an authorized invoice
93. Allow different locations to access authorized invoices
94. Allow critical staff to access invoices from anywhere in the world
95. Improve employee morale by embracing new approach to outdated processes
96. Improve vendor relationships by making it easier on them
97. Leverage real-time payables dashboards
    
98. Ensures payables process is optimized for growth
99. Make better business decisions
100. Reduce costs and save money

Interested in seeing how your payables process compares to AP Automation?

AP Benchmarking: How do you compare?

Did we miss anything? Is there something specific you want to achieve with AP Automation? Anything to add? Let us know! 

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