Answers to questions are such an important part of looking into a new process like AP Automation. As I have written and spoken about many times the idea of automating is more change/impact than buying software.
Here I Go Again
One of the big challenges to getting answers is asking the right questions, so today I thought I would take a simple approach at this complex problem by asking one question and getting 5 different answers.
The question is, “why automate accounts payable?”
The most common conception about why with finance and accounting people is because one day every company and all of accounts payable will be automated. The problem with that answer is no one really knows when the future of AP Automation will start.
Because people are worth more than manual task like data entry, filing and opening the mail. A company that has 5000 invoice per month can free up 8500 hours per year of manual task when automated.
The accounts payable process will improve. Paper needs checks and balances to make sure that nothing is lost or not managed. AP Automation’s checks and balances are by way of data capture and reporting.
The accounts payable process will become faster due to automation. Because of the way AP Automation is presented and managed the approval process will speed up as much as 15 to 20 days. Speed will solve a lot of problems as well as create opportunities for better cash management and discount captures.
Aren’t you sick and tired of hear from people about where are invoices, who has them, who was the one that lost it, why can’t anyone find the file… Professional shouldn’t have to deal with this type of stuff, so once automated all of those conversation go away… It’s a beautiful day!
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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