Arguments for automation of the Accounts Payable area

Jan 30, 2014 | Invoice Workflow

In the analysis that every AP department does at the time of considering the automation of its processes, there appear two fundamental values, which make up the essence of change.

Benefits of automation in the Accounts Payable area

ROI (Return on investment)

On one side, we have the ROI or Return on Investment. It is as easy as doing some sums and evaluating the economic benefit that the change would give compared to the necessary investment. In the case of automation the number is always positive and more than 1 (At times, even better than 1!)

Time

On the other, the advantage of being able to count on having more time available. Automation always frees up time. Time to dedicate to better things, such as strategy. The area of accounts payable can evolve and be the main source of value for a company, if it is capable of doing more than data-entry and recording invoices by hand. It can become the agent of analysis and observation of the company, bringing a new and useful vision to the area of purchases and provisioning.

So, when an accounts payable professional has to give solid arguments for why the company should take steps and automate the AP area, they only have to present these two variables and the implications that they have, in short, for the profitability of the company.

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