Why AP Automation Is Essential In This Remote Working Era

Due to the COVID pandemic many organizations all over the world have allowed staffs in specific department to work distantly with a decent amount of success. Because of the present pandemic situation corporations now have no option, they must find a way to allow all their personnel to work remotely. What this entails is that for occupations that stay rooted in time-honoured methods, such as finance, manual methods have left them scrambling to adjust. The proof that mounts in favour of automating accounts payable, now more than ever, is impossible to overlook.

Companies that have already executed an automated accounts payable software system will have experienced a flawless transition from workplace to home working that hasn’t compromised operations. Besides facilitating distant working, accounts payable automation also accelerates processing, eliminates old fashion data entry, boosts preciseness, and eliminates the requirement to physically touch invoices, so it’s no surprise that a large number of corporations have made the switch.

If you’re yet to implement accounts payable automation in your company, you’ve to make sure it’s a top priority for 2021. Listed below are a few reasons why:

Decreased expenses:

The main priority for businesses this year has been decreasing expenses, in order to lessen the monetary impact of the Covid. If your AP team is still following the manual way of invoice processing, you’ll be surprised to know that organizations that have made switch to automation are paying eighty percent less per invoice.

Shorter processing time:

Research has shown that manual routing of invoices for approval is the main cause of slowdown in the accounts payable process. With remote working this process has become even more inefficient. With personnel no longer interacting physically in a regular basis, invoices needing approval can be left un-actioned in inboxes for many days. For accounts payable departments still dealing with paper invoices sent directly to the office, the change to distant working has become almost unfeasible.

However, accounts payable team that executed automated solutions will have experienced a flawless changeover. Following implementation, organizations saw decrease in paper invoice volume, faster approval times, and enhanced visibility into unpaid invoices.

If the change to remote working has proven tough for your accounts payable team over the last few months, now is the time to implement Accounts Payable Software Systems from a reputed vendor like Aurora Software. With expense reduction a main focus for businesses as they strive to survive the economic uncertainty, a switch to AP automation in 2021 must be the 1st priority for AP teams still working in the manual way.

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