Why AP Teams Should Automate Now, Even with Low Invoice Volumes

An IOFM study shows that highly manual AP departments are tasked with processing about 10,000 invoices per person per year. However, as the business grows, that can quickly evolve into an unmanageable workload, especially if it requires staff to be in the office to pay the bills.

Paper workflows are slow, error-prone and ripe for fraud, often resulting in duplicate payments and lost discounts. Without an automated solution to track and route invoices, it’s not uncommon for the same ones to be paid twice, once from the original and once from a copy. Recovering those extra payments can be next to impossible, which costs the organization even more time and money.

Bill.com stresses that there are three main components to consider when looking to move from manual to automated payments: visibility, control and scalability. To be effective, your solution must provide transparency into payment workflows, allow you to monitor your processes and accuracy, and offer the flexibility of a cloud-based solution that doesn’t require staff to maintain it. Download the white paper, “Why AP Teams Should Automate Now, Even with Low Invoice Volumes,” today.