GUIDES

Benefits of AP Automation

Gain complete control and reduce the risk of fraud by automating invoices & payments for AP.

February 15, 2022

Contractor holding phone on construction site

What is Accounts Payable Automation?

AP automation, or Accounts Payable automation, is the process by which accounts payable processes are handled digitally rather than manually. Accounts payable automation has revolutionized the way businesses process and pay their invoices.

Benefits of Using Net Payments

Transform invoices to a digital workflow and send payments directly to suppliers and vendors from your bank, eliminating paper and generating revenue. Say goodbye to incoming paper invoices & outgoing paper payments. Transform your AP department by eliminating manual paper-based processes. What could your team do with an extra 10+ hours a week?

Benefits of AP Automation

AP automation offers a host of benefits for businesses, including cost savings and processing efficiencies, reduction in errors, and the ability to optimize working capital. The key benefits are:

Time Savings AP Automation software makes the invoice processing and approval process faster and more efficient. By eliminating many of the manual stages of invoice processing, automation significantly reduces the number of human touches per invoice and as a result, minimizes the amount of time staff spend on this aspect of their role.
Improved Efficiency Automation streamlines the invoicing and payment process, reducing approval times and increasing productivity.
Increased Accuracy Automation increases accuracy by eliminating the risk of human error and helps reduce payment errors, such as duplicate or fraudulent payments.
Reduced Costs AP automation can significantly cut the cost of processing invoices, saving the business money as well as time and resources. Automation helps reduce labor costs by reducing the amount of data entry involved in the process, as well as eliminating the costs involved in document storage, postage, invoice production, etc.
Built-In Compliance When AP processes are automated, compliance rules are built into the system. This makes the process fully transparent, so that common risks and instances of fraud can be tracked and prevented. For example, the system will flag duplicate invoices, additional charges, and suspicious activity.

The Financial ROI of AP Automation

The specific return of an investment will depend on factors such as the amount you invoice each month and how much you currently spend on the process. However, some factors to consider include:

Reduced invoicing processing costs
Reduced losses as a result of human error
Time savings
Reduced staffing costs

The Non-Financial ROI for AP Automation

As well as the financial returns, you should also consider the non-financial ROI, including:

Increased control
Streamlined processes
Easy auditing
Optimized business relationships
Employee and customer satisfaction

Considering all the factors above and their financial implications will help you calculate the potential ROI AP automation could offer for your organization. Are you interested in automating your AP? If so, you can get started in as little as 15 minutes. Simply, sign up for an account at BlueTape.com. After completing your application, your account will be approved within an hour. There are no monthly fees, no installation costs, and no minimum commitments. Best of all, BlueTape is easy and risk-free! Subscribe to our newsletter to stay tuned about upcoming webinars and blog posts.

1390 Market Street, Suite 200, San Francisco, CA 94102

All loans originated on the Bluetape platform are underwritten and made by CBW Bank, member of FDIC.