Benchmark Your Accounts Payable Statistics
Depending on your accounts payables process you may be experiencing different levels of efficiencies, or a lack of. These varying degrees of efficiency may be caused by things like:
- Employee turnover in AP
- Inexperienced AP staff
- Business growth and increased supplier invoice volumes
- Bottlenecks and slowdowns due to manual steps
- Overload due to paper processing
- Transactional errors due to manual keying and data entry
- Slow invoice approvals due to lack of visibility and controls
- Costly purchase order invoice matching and errors due to manual processing
- Higher than average cost to process supplier invoices
Purchase Order Invoice Matching
How does your payables matching process compare for PO invoices?
Non-PO Invoice Processing & Approvals
How does your payables process compare for Non-PO invoices?
AP Automation has Something for Everyone
No matter what role you're in Accounts Payable Automation helps everyone in the organization:
- 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.
How Did You Do?
How does your payables process compare overall when it comes to processing supplier invoices? If you're processing invoices manually there's probably room for improvement. If you've taken some steps and made some process improvements then you're definitely headed in the right direction. We can help you make it the next level of efficiency!
Who Are A Few Companies That Use Vision360 AP Automation?
