Automate Your Accounts Payable Process
Watch this live accounts payable automation workflow
Processing an invoice through manual accounts payable workflows often takes 35 days or more, a lot of sneaker tread and let’s be honest, is very painful because the manual accounting process is broken. With A/P automation in place, you have full visibility into invoices at every stage of the index and approval cycle. A/P automation also reduces the time from invoice submission to payment to as little as half a day, while never leaving your desk to find your “Larry” that always loses invoices.
While you may not track the costs in dollars and cents, industry research shows that the average cost of processing invoices manually is $40.70 per invoice. When you streamline the process with A/P automation, the cost per invoice drops to less than $5. Because of the significant cost reduction and improved efficiency, most companies achieve ROI in 9 months or less. Typically, their only regret is not starting sooner.
Watch this workflow example to see how simple your invoice process can become, and learn more about accounts payable automation here.