Accounts Payable Automation

  • 4 August 2016
  • 0 replies
  • 1587 views

The Problem

 

  • Invoices can arrive into the business via traditional post or emails.
  • The majority is still printed on paper
  • When tackling piles of paper, we rely on our eyes and typing skills to get this information into our respective finance systems.
  • Boredom sets in and focus starts to degrade
  • Chasing down people for approval, especially management is a real sore point within most organisations.
  • It can take hours, days and sometime weeks to get that sign-off we need to progress our objectives
  • How much is this costing you, your company?

Why Automate AP?

 

1st, to Improve Efficiency

  • Do more without having to increase resources
  • Deliver the right information to the right people at the right time, to allow them to make more informed decisions
  • Execute all processes in a consistent manner

2nd, we want to improve visibility to both customers & employees. We want to understand the Who, the What, the When and the How of their processes

3rd, is to reduce costs by faster process execution times through business rules, automation, and escalations to name a few

Last is to respond to change by rapidly responding to evolving and changing business circumstances


ROI - So How Much Does Automated AP Cost ?

 

Based on pre defined salaries and time to complete tasks, we have arrived at the following. We would be more than happy to work with you on your specific times and costs at a later stage.

    • Cost for processing a single invoice is $12. Times that by the number of invoices you receive and we start to get the real picture. As an example, 500 invoices a month would cost $72,000 a year to process
    • Our solution Reduces invoice processing time by over 60%
    • Our solution Reduces approval time by over 50%
    • Our solution Reduces human error due to automation and significant time saving on report generation
    • Our solution Reduces the cost of processing an invoice to $4 per invoice. This gives you a Cost savings for processing a single invoice of $8 ... that?s a 60% saving !!

Keep in mind, our numbers are conservative, however, Again, We would be more than happy to work with you on your specific times and costs at a later stage.


0 replies

Be the first to reply!

Reply