Zero In On Accounting Automation
What’s the cost of doing nothing? Your business becomes irrelevant. Your competitors leave you standing. You’re done.
Zero in on accounting automation
The best AP automation solutions do represent an investment for accounts payable departments. But, the cost of doing nothing is significant. Postponing investment in automation means your business will face hidden costs related to productivity, efficiency, labor, and security.
Our eBook explores the true cost of doing nothing. Of persevering with manual document processing in accounts payable. It highlights the benefits of accounting automation, questions to ask an IDP vendor in your RFP, and the impact of doing nothing. Our goal is to help you devise an action plan for your business’ prospective AP automation strategy.
Looking to drive AP automation at your organization? Download your copy of our accounting automation eBook now.
Where we are today
Today’s consumers are technology led. They expect companies to meet their expectations of digital transformation. To personalize and provide the best customer experience.
CFOs considering automating the accounts payable process are wise to balance the cost of investing in new technology. Because ignoring consumer requirements, means they’ll lose out to competitors who are already driving automation.
76% of consumers will stop using a brand after one bad customer experience.
Maintaining the status quo because your manual AP workflow meets your goals, puts your business in jeopardy. The cost of doing nothing will in the end eclipse the cost of automation.
Future-proof your business with end-to-end automation flows across accounts payable processes, to eliminate manual tasks, optimize resources, and increase efficiency.
The cost of doing nothing
Businesses have no choice. Sticking with manual data entry while the volume of documents their AP team has to deal with increases is not sustainable. Add an unstable economy and fluctuating markets to the mix, and disaster looms.
The direct and indirect costs of manual, paper-based invoice processing amounts to $2.7 trillion for global businesses.
2018 Goldman Sachs report
If you don’t invest in your business, it will become irrelevant. As your competitors overtake you and customer trust in your brand diminishes.
Automating your document processing will not only solve operational pain points, it’ll also increase security, drive innovation and productivity, and deliver a better customer experience. Businesses across all industries should future-proof themselves against future economic uncertainty and make automation a part of their strategy.
6 benefits of accounting automation
Accurate data capture
Extract data accurately from your accounts payable documents - even when layouts change - and avoid late payment penalties.
Automate manual tasks and reduce clicks per invoice to free up your AP team to focus on high-risk areas, new business models, and complex transactions.
Create business rules for invoice routing to speed up the approval process. Pay bills faster and take advantage of early payment discounts.
Robust data security
Drop spreadsheets that lack preventive controls and increase the risk of cyber attacks, in favor of a cloud-based single source of truth.
Real-time insights & analysis
Unify data to identify trends, exceptions and insights to drive agile decision making. Build reports & dashboards without having to rely on IT.
Reduced employee churn
Too much repetitive work and too few hands leads to a high turnover of staff. Automate tedious tasks leaving your team to work on vendor relations.
Best-in-class accounting automation loved by customers
“We’ve done a good job of getting a very high percent of our documents through the solution quite quickly. It remembers everything, that’s fantastic!”
Business Processes Improvements Manager
"I'm happy that our junior staff is not getting melted down under the manual data entry friction anymore and has now more space for professional growth."
Head of Accounting
"The entire process, from purchase to deployment in our infrastructure, took us less than 3 days."
Download the ebook
This is not about replacing your team with robots. It’s about helping your team do more with less. It’s about improving their working environment. Businesses that adopt automation and galvanize their employees will secure the competitive edge.
Over time, more businesses will increase automation across the board as they recognize the need to implement more advanced technology to deliver the desired results.
Businesses investing in a long-term automation strategy will ultimately be the strongest and most competitive, as they’ll manage peaks and troughs in demand, and labor and skills shortages. Automation will give them the flexibility to adapt immediately to changing conditions and customer demands.
Our eBook explains the many benefits of accounting automation, questions to ask an IDP vendor in your RFP, and what will happen if you do nothing.
Freeing up your human workforce and streamlining your AP processes will increase efficiency, productivity, and improve your company culture. Let us help you draw up an action plan for your accounting automation strategy.
Download your copy of our Cost Of Doing Nothing eBook now.