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AP AUTOMATION BLOG

IMAGINE THIS...1,000'S OF YOUR SUPPLIER INVOICES





PROCESSED TOUCHLESS AND IN MINUTES!

Is AP Automation A GOOD Investment?

7/7/2016

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Accounts payable automation’s attractiveness as an investment is well documented. Studies by The Hackett Group, the Institute of Finance and Management, Nucleus Research, Aberdeen Group, the Institute of Financial Operations and many other independent industry experts document broad and substantial cost savings.

In a straightforward example, the Aberdeen Group’s May 2012 report, AP Invoice Management in a Networked Economy, measures efficiency leaders at less than $2 to pay a bill, while the majority pays $6 - $25 or more, indicating available savings of more than $40,000 for every 10,000 invoices annually in most organizations. How can the majority resist the attraction of investing in technology that pays for itself? Creating your own business case for change in how you do AP is a good starting point – there is enough evidence to give you confidence that your case will be compelling.

In addition to the reduction of personnel costs for the capture and entry of invoice data, organizations also benefit from a reduction in duplicate invoices, increased discount capture, and the elimination of late payment penalties. So where should you look when estimating the benefits that can justify your investment in end-to-end AP automation?

Here are some of the common areas that yield the greatest return:
  • There is great value in a single, consistent, automated process for all types of invoices, paper and electronic. Without this technology, organizations rely on different processes, managed by different people, with different methods of viewing and interaction.
  • The capture, extraction, validation, and entry of invoice data automates the most painful part of the process. This is where errors multiply, where delays occur, and where the headcount costs are visible. It is universally viewed as a low-value activity.
  • Automated purchase order matching removes low-value work from the outset. Successful matches result in straight-through processing.
  • Workflow for discrepancy resolution and approval is the heart of the process. It engages all employees, so it has to be easy to use. It requires complex tasks, such as ensuring valid accounting codes and enforcing approval limits and hierarchies. This is where segregation of duties must be embedded, and where fraud can be trapped
  • A self-documenting audit trail removes the painful task of supporting audits and responding to inquiries.
  • The real-time status of all invoice liabilities, alerts and escalations bring focus on priorities before others notify you. It positions AP to perform a fast period close

About Vision360 Enterprise and BlueCreek Software: BlueCreek Software is the developer of industry leading accounts payable automation system, Vision360 Enterprise. Vision360 Enterprise provides accounts payable automations services, systems and solutions to leading companies across the United States and Internationally. For more information about our Vision360 Enterprise accounts payable automation solutions please contact us www.Vision360Enterprise.com or call (603) 437-1400. 





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    Vision360 Enterprise  Accounts Payable Automation Solution by BlueCreek Software reduces time wasted chasing down paper invoices by automating invoice approvals, eliminating manual data entry, eliminating paper invoices and reducing processing costs.

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  • HOME
  • ACCOUNTS PAYABLE AUTOMATION
    • AP INVOICE SCANNING >
      • MAIL PROCESSING
      • AP INVOICE OCR
    • TOUCHLESS AP PROCESSING
    • PURCHASE ORDER MATCHING
    • ELECTRONIC PAYMENT PROCESSING
    • ERP INTEGRATION >
      • EPICOR INTEGRATION
      • INFOR INTEGRATION
      • JD EDWARDS INTEGRATION
      • LAWSON INTEGRATION
      • MS DYNAMICS 365 AP AUTOMATION
      • MS DYNAMICS GP AP AUTOMATION
      • MS DYNAMICS NAV AP AUTOMATION
      • MS DYNAMICS INTEGRATION
      • MEDITECH INTEGRATION
      • ORACLE INTEGRATION
      • PEOPLESOFT INTEGRATION
      • QAD INTEGRATION
      • SAGE INTEGRATION
      • SAP INTEGRATION
      • AS400 INTEGRATION
  • ACCOUNTING SYSTEMS
  • WEBINARS
  • GLOBAL SOLUTIONS
  • BLOG
  • RESOURCES
    • SOC AUDITED CONTROLS
    • FAQ's
    • NEWS
    • PARTNERS
    • WHITE PAPERS >
      • THE DECISION TO AUTOMATE ACCOUNTS PAYABLE
      • NOW IS THE TIME TO AUTOMATE ACCOUNTS PAYABLE.
      • WHY IMPROVE ACCOUNTS PAYABLE
      • PAYBACK & ROI
  • CONTACT
    • SUBMIT RFP
    • SUPPORT
    • ABOUT
    • GDPR >
      • PRIVACY ACCEPTABLE USE POLICY
    • CAREERS