Optimize Your Cash Management Position and Eliminate Waste
Are you taking full advantage of early payment discounts? Are you often hit with penalties associated with late payments? Or worse, is your credit rating being impacted because of manual AP systems that provide no insight into your payment practices? The reputation of your business is at stake. Research suggests that AP automation can reduce your cost-per-invoice by up to 75%, and help you prioritize and capitalize on a greater volume of early payment discounts. The AP Express analytics dashboard delivers real time, actionable insight into every opportunity for optimizing cash and eliminating waste.
Improve Operational Efficiency and Productivity
Manual AP processes are notoriously slow and error prone. According to the Aberdeen Group, it takes on average 14.2 days and costs between $5 and $25 to process an invoice manually. Moreover, there is limited management visibility into the process. Pinpointing bottlenecks and reallocating resources is a guessing game.
AP Express changes all that. It digitizes and automates the entire process, dramatically reducing errors and improving processing speed. Users have experienced productivity increases of 6 to 8 times, with no errors. Built in dashboards deliver full visibility into every aspect of your processing stream, allowing AP managers to drill into data by vendor and create actionable benchmark reports of AP staff performance.
Attract and Strengthen Customer and Supplier Relationships
Financially healthy organizations are founded on strong customer and supplier relationships, with end-to-end transparency and frequent, constructive engagement. Manual AP processes put those relationships in jeopardy by obscuring critical issues in the sales and supply chain.
AP Express offers fast, automated invoice entry and maintains a full audit trail of the process. Anyone with access to AP Express can readily answer questions about order status and pricing. AP automation also provides accurate, on-time visibility into early payment discounts, building trust with your suppliers and helping you manage your cash position.