Six Questions to Kick-Off a Scalable Accounts Payable Automation Project
A Guide to Understanding and Implementing Scalable Accounts Payable (AP)
Accounts Payable (AP) automation software adoption can bring huge returns in cost and efficiency gains—with an AP solution, innovative AP departments can process invoices in fewer than 5 days at a cost of $2.36 per invoice, and capture 75 percent of available term discounts. Without automation, the AP process typically take 9 times as long, at 6 times the cost, with companies capturing only 18 percent of available discounts.
These cost and efficiency improvements are possible for almost any company—but not all will reach for them. Some don’t have the budget for a full AP process transformation, or they believe their current state couldn’t withstand a large-scale software implementation. For these organizations, a more feasible goal is to adopt AP automation in a scalable manner with modular solutions. Beginning with the tool that meets their immediate process improvement needs, companies can still work towards full automation, but at a pace that suits their organization.
This report offers:
– A look at current market trends around AP processes
– A guide to beginning a scalable AP transformation
– Strategies for leverage AP automation according to current state conditions