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Time VS ROI – #AP Automation

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The Chris Elmore

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I am still writing about verses. The articles that have preceded this one were document management vs. automation, transactional vs. seat license and the last one was SaaS vs. self hosted. The point is to help you find out, based on the service providers you are using, what to look for so you are able to compare all of the competing offering in a more objective manner.

This Is Difficult

If you look at the other verses, those were more tangible things. Time and ROI is much more tricky.. hang on!

ROI

ROI, which means return on investment, is a technology companies way to monetizing the benefit of AP Automation. It is designed to illustrate by investing a certain amount you will receive that amount plus more. The formula for return on investment for AP Automation is your current AP cost – your automated AP cost x over time = ROI.

Time

The time that I am referring to… as it pertains to AP Automation is the amount of time that is freed up by automation. If you look at AP Automation in its purest form you will find that its job is to free your people up from task that software can do. An example is, if you get an electronic invoice you won’t have to open that envelop.

Verses?

As I wrote in my introduction, this one is a much different verses… it’s more of a heads up… because your service provider is going to want to help you evaluate the ROI. Salespeople do this all the time because they (personally) are motivated by opportunity, so they will naturally think you are too. The downside is ROI numbers can be grossly manipulated (lies – damn lies – and statistics). The verses part is time cannot not be manipulated. Meaning if a service provider will free your process up of 9000 hours and another service provider will only free up 2000, the 9k service provider has the competitive advantage.

Want to know more? Buy My Books!

To buy the book – The Argument to Automate – How Innovation Can INSPIRE Not Fire – click here to buy

(Also) To get your copy of The 8 Pitfalls of Accounts Payable Automation – click here to buy

How about a children’s book? The Princess and the Paper – click here to buy

 

 

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The Chris Elmore Avatar
The Chris Elmore
**Entrepreneur | Speaker | Author | Sales & Innovation Expert** Chris Elmore is a dynamic entrepreneur, speaker, and author known for his engaging storytelling and deep insights into sales, innovation, and entrepreneurship. With over 30 years in the tech industry, Chris has built a career at the intersection of business growth, human behavior, and market disruption. Recognized as a “Startup Hero” by *North Carolina Business Magazine*, Chris was the first employee at AvidXchange, where he played a key role in its growth and success. Today, he serves as the **Sales Director at Community Financials**, helping communities streamline financial operations with innovative solutions. A sought-after speaker, Chris captivates audiences with his unique blend of humor, wisdom, and real-world experience. He has delivered keynotes for companies like Schneider Electric USA and teaches **Entrepreneurship at UNC Charlotte**, where he shares his expertise with the next generation of business leaders. Chris is also the author of 12 books, including his latest project, *The Convergence Theory of Entrepreneurship*, which explores how innovation, people, wisdom, and market insights drive success. His practical, no-nonsense approach to business and sales makes him a trusted advisor to entrepreneurs, executives, and sales professionals alike. Outside of business, Chris is a professional Christian songwriter, musician, and co-host of the *True Financial Crimes* podcast, a lighthearted yet insightful look at financial fraud. Whether on stage, in the classroom, or behind the mic, Chris brings an infectious energy that inspires and challenges audiences to think differently, sell better, and lead with impact.

5 responses to “Time VS ROI – #AP Automation”

  1. AP Automation Competition – Find The Learning Curve | AP Automation News

    […] week I got an email from a company that said they are in the middle of an Accounts Payable Automation project, and their first order of business is to gather all of the service providers and put them […]

    Reply
  2. Getting To The Bottom Of Your Company To Evaluate AP Automation Competition | AP Automation News

    […] an Accounts Payable Automation initiative starts someone will say, “hey, let’s search the internet to see who is out there […]

    Reply
  3. The Real Competition For AP Automation | AP Automation News

    […] have written about, hosted VS SaaS, license fee VS transactional fee, and ROI VS time, just to name a few. I wanted to help you understand that there are a lot of things working under […]

    Reply
  4. Finally – Competition And Accounts Payable Automation | AP Automation News

    […] and I don’t see this changing anytime soon, companies have been looking at two or three different AP Automation service providers in the hopes that one will rise above the other. Much to their frustration, […]

    Reply
  5. Does AP Automation Help Delegation – 3 Things to Consider | AP Automation News

    […] or has already become past due or even a discount is expiring. It is a true statement to say that AP Automation can police itself so you don’t have […]

    Reply

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