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 the one hand, we have the ROI or Return on Investment. It's as simple as crunching the numbers and evaluating the economic benefit of the change compared to the investment required. In the case of automation, the number is always positive and greater than 1 (sometimes much greater than one!).
Time
On the other hand, there is the value of having new time availability. Automation will always free up time. Time to improve many things, and time to think strategically. Accounts Payable can evolve and become the main source of value for a company if it can do more than just enter data and post invoices by hand. It can become the agent of analysis and observation of the business, bringing a new and useful vision to the purchasing and procurement area.
So, when an Accounts Payable professional has to make a strong case for the company to take the step of automating the AP area, he or she only has to present these two variables and the consequences they have, in sum, for the profitability of the business.
