Why should you invest in automation?
WHAT IS ACCOUNTS PAYABLE AUTOMATION?
AP automation, or accounts payable automation, is the process whereby accounts payable processes are handled digitally using technology, rather than manually. This can create faster, leaner, more cost-effective AP workflows.
AP automation solutions are able to intelligently capture and analyse the information that’s on invoices, speeding up the process and helping reduce errors.
HOW DOES ACCOUNTS PAYABLE AUTOMATION WORK?
AP automation uses optical character recognition (OCR) from scanned images, or full-text conversion from Data PDFs, to extract any relevant information from invoices and purchase orders (POs). OCR translates text from the document into a code that is then used for data processing. The data is then placed into a digital workflow which will then automatically pay suppliers providing all supporting information matches.
HOW DO YOU CALCULATE ROI ON AUTOMATION?
Substantial time and resource savings are some of the key reasons that businesses are automating their accounts payable process. Have you ever wondered what those savings might look like for your business?
Why not try our free ROI calculator, the results may help you decide whether a project of this nature is worth considering. Just answer a few simple questions and then we can provide you with an estimate of just how much value you could potentially unlock.
Why should you invest in automation?
- Immediate decrease in manually intensive tasks;
- Handle invoices by exception, instead of handling them all;
- Reduced document storage requirements;
- Significant improvements in processing time and;
- Enhanced visibility of outstanding invoices and approvals.
Want to find out more about how investing in automation could benefit you? Why not get in touch.
