Anyone who has ever been responsible for handling a company's accounts payable (AP) knows just how time-consuming and tedious the process can be. From tracking down invoices to answering supplier queries to making payments as per agreed terms, there's a lot of work that goes into ensuring that everything is taken care of accurately and on time.
But what if there was a way to automate much of this process? Believe it or not, accounts payable automation can save you a lot of time and hassle and furthermore reduce the risk of fraud and duplicate payments.
Read on to learn more about the benefits of automated AP processing.
1. AP automation speeds up the process of paying your supplier invoices
If you're looking to speed up the process of paying your supplier invoices, SpendConsole™ may be a good option for you.
By automating your AP processes from onboarding suppliers, receiving invoices, and extracting and validating the details, you can cut down on the time it takes to pay your invoices each month.
Automating your accounts payable can help you save time, improve your cash flow and reduce risk.
2. It eliminates the need for manual data entry, which can lead to mistakes
It eliminates the need for manual handling of paper, data entry and also chasing approvals, which can lead to mistakes. Not only does it make your life easier, but it also reduces the chances of errors.
3. SpendConsole™ can flag potential problems and errors before they happen
Did you know that SpendConsole™ can flag potential problems (eg. fraudulent bank accounts, duplicate supplier requests and invoicing errors) before they happen?
This ensures you can avoid potential mistakes before they even occur.
4. Automation helps you stay organised and in control of your finances
Automation can help you stay organised by automating your AP and finance reporting. This way, you'll never have to worry about delays in paying your Suppliers or transferring funds to the wrong bank account.
5. It frees up time for you to focus on other important tasks
Automating your AP process can free up time for you to focus on more important tasks.
AP automation using SpendConsole™ can save your business time and money. How much time and money depends on the specific solution that you choose, but there's no doubt that automating a portion of the AP process will yield benefits. If you're looking for a way to automate your company's AP process, we encourage you to check out SpendConsole™.
Our website explains our solution and how it helps businesses streamline their operations, saving precious resources. We know you'll be impressed by what SpendConsole™ has to offer and encourage you book a discovery call with our team today!