User Review
( votes)Payment commerce is moving increasingly towards paperless vendor payments, and it is crucial to understand how automating accounts payable (AP) functions can benefit your needs. Employing AP automation functionality can offer numerous benefits for your business and your vendors by reducing the labor-intensive effort involved with outbound payments.
Advance Cash Flow
Use digital systems such as virtual cards to pay your vendors and earn rebates based on your business spend. You can successfully turn your accounts payable branch into a revenue generator.
Cut Costs and Paper Processes
Automating paper-intensive AP processes can eliminate the need for paper checks. Loading, printing, and disbursing checks requires time from your staff and can add up to a substantial expense, especially when we look at those ‘not so little’ costs of labor and tracking down checks.
Less Red Tape + Real Time Confirmation
With less ‘hands-on paper management’ comes less involvement from your staff. Additionally, virtual cards are easier to process than paper checks, requiring minimal clicks to send an online payment. Bonus! You get an automatic confirmation for easier record keeping.
Modernize Payments and Get the Gift of Time
Integrate AP automation technology into your existing financial or ERP system to simplify the payment and reconciliation processes. This integration relieves your team from the manual work associated with vendor payments, allowing them more time to perform higher-value activities.
Alleviate Risk
Accounts Payable automation allows you to process all vendor payments via a safe and secure payment platform, reducing the possibility of lost or stolen checks getting into the hands of unauthorized users.
Getting Started is Easy
Taking the time to evaluate if automating AP is right for your organization can be daunting, but it doesn’t have to be. Realize direct cost and time savings with an integrated AP Vendor Payment Solution that can be up and running in just a few days.
By Maureen Cole, REPAY, www.repay.com
The post Benefits of Integrating AP Automation with Your ERP appeared first on ERP Cloud Blog.
