Make an AP Automation Decision in 1/2 the Time With These Resources
When I think of resources I think of Clark W. Griswold and his mother-in-law reaction to the lights not turning on. Watch for yourself… it’s at the end of the clip:
When it comes time to make a decision on Accounts Payable Automation there are a few things you will need to help make the decision.
ONE – ROI
Before you embark on an Accounts Payable Automation journey, you need to know if your technology and service provider is going to give you a return on investment (ROI). I give people a simple formula to find the ROI:
(Current Cost – Automated Cost) X Time = ROI
Your service provider can tell you your automated cost. The point here, however, is you must have a positive return. Any technology you buy has to have a positive return.
TWO – Time
The second resource you need is a time calculator. I have created a simple one if you want it send me an email from the contact form below, I will email it to you.
The time calculator will let you know who in your organization will need more things to do once you are automated in AP. Be warned though, that the amount of time that is freed up is closely attached to the service providers capabilities ( I refer to this as hard dollar savings.)
THREE – A Plan
As a resource, this last one refers more to a very formal plan that deals with people who are being freed up and tasks that are more important to the company. Where this is not a resource is if the plan is loosely constructed in someone’s head. The plan has to be a physical plan, that is documented so the company will know that with Accounts Payable Automation their people are going to be used in more productive ways.
After all isn’t the greatest resource a company has is its people?
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