Accounts Payable Automation
Helping Accounts Payable Manage Risk while
Contributing to the Bottom Line.
An Inadequate AP Department
Introduces a Lot of Costs:
Excess Labor: Manual data entry and inefficient AP processes mean countless hours of labor
lost on tasks that could be more quickly and accurately performed by a computer.
Human Error: Likewise, manual data entry and manipulation are an invitation to mistakes.
Duplicate and Late Payments: Not sure if a bill has already been paid? A good AP department
tracks all invoice statuses.
Expense Reports and Audits: It can take months of labor and guesswork to dig up all the
information needed for an audit. Poor controls can allow for expense report abuse.
Missed Discounts: Without a way of tracking contract terms, it can be difficult to know when
you’re leaving money on the table.
Accounts Payable Can Be a Money Pit.
Inefficient, outmoded processes plague modern AP departments, resulting in
countless hours of wasted, redundant, or error-prone labor.
On top of that, these types of processes often act as impediments to the payment
process, making many early payment discounts unattainable.
43% of organizations say they are only able to leverage less than 10% of early
payment discounts available to them.
AP Automation Lets Accounts Payable
Give Back More Than It Takes.
Maximize Straight-Through Processing of PO Invoices: Achieve a straight-through
processing rate of 85% or higher. Reduce operating costs and improve the
predictability of cash needs.
Reduce Spending and Improve Bottom Line: By speeding your transfer to e-invoicing,
enabling businesses to work more closely with vendors, and eliminating manual data
entry, AP automation provides a wide array of opportunities that save both time and
money.
Contribute More Value to Your Organization: By streamlining and automating your AP
process, you’ll turn accounts payable into a profit center.
Why Do Businesses Choose AP
Automation?
59% of organizations want to ensure purchases are made with preferred suppliers
46% of organizations need to improve accuracy and eliminate mismatches and
exceptions that lead to blocked invoices
30% of organizations are motivated to make the supplier invoice submission process
easier.
AP Analytics: A Valuable Tool for CFOs,
Controllers, and Procurement Professionals
Alike.
Another major benefit of AP automation is that it allows for easy, intelligent analysis of
accounts payable and its performance. Financial executives need the ability to identify
opportunities across the enterprise in real-time and the tools to take action.
Controllers and Procurement professionals need to be able to manage payments
dynamically and negotiate better terms with their vendors.
With these insights, businesses can save millions of dollars creating liquid assets or
reducing payables.
Prodagio Analytics for AP provides real-time visibility into these opportunities and a
real-time linkage between Accounts Payable and Cash Management.
The Benefits of Accounts Payable Automation from
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