Top Benefits of AP Automation
1. Time savings
AP automation significantly reduces the time required to process an invoice. Payables are automatically routed to the right team member according to customized workflows — quickly and without manual intervention.
2. Cost savings
Manual invoice processing can cost up to $15 per invoice, compared to $5 or less with AP automation. Automation reduces invoice processing costs by such a substantial amount because it helps eliminate 83% of the manual data entry.
3. Improved collaboration
AP automation allows as many people as necessary to collaborate on any particular payable in real-time. No matter where they are, any stakeholder can simultaneously access financial documents to confirm or dispute charges, seek clarification, or explain discrepancies — all at the click of a button.
4. Reduced accounting risk
Automation provides visibility into the approvals and payments workflows. This helps avoid common AP risks, such as manual data entry errors, false billing, and duplicate or lost payments.
5. Digital audit trails
Digital invoicing really shines when it’s time for an audit. Electronic audit trails make invoice tracking a breeze, from receipt to payment. You can search for invoices by vendor, GL code, amount, legal entity, or any other information on the invoice, and track its progress through your workflows at a glance.
6. Customizable workflows
AP automation lets you customize your accounts payable process to suit your company’s needs. You can create invoice routing based on threshold amounts or specific approval workflows, create and maintain approval timelines, balance AP staff workloads, and cross-check and validate payables against your own accounting system tables.
7. Cloud-based data storage
A cloud-based AP automation solution gives users access to the AP system from anywhere. Information is centralized on a single platform, enabling real-time reporting for anyone with the designated access — increasing productivity and collaboration.
8. Full visibility into the AP workflow
An automated accounts payable system provides the kind of control that’s impossible to achieve with paper-based workflows. AP automation clearly shows where every invoice is, the status of payments and approvals, and virtually anything else you might need to know.
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TL;DR: AP automation is a game changer for accounting teams.
Key benefits:
🕒 Time Savings
💰 Cost Savings
🤝 Improved Collaboration
⚠️ Reduced Accounting Risks
💻 Digital Audit Trails
🔀 Customizable Workflows
☁️ Cloud-based Data Storage
👀 Full Visibility into AP the Workflow
If you just read the TL;DR version and are wondering how you can simplify your accounts payable workflow the same way, you should scroll down ⬇️
Congratulations on taking the first step towards AP automation
You might have a million questions, ranging from how seamlessly an automation platform integrates with your current accounting system to the potential long-term savings it can offer.
We'll answer all your questions below! But you can start off by hearing how other finance teams have embraced automation 👉
How much can you save by automating accounts payable?
Most finance leaders we talk to want to spend more time on strategic, analytical work. The problem is finding more time. If your team is burdened with manual tasks, try our AP automation ROI calculator to see just how much time you could get back with automation.
Can you automate AP without reworking your ERP?
We can integrate seamlessly with your accounting software to help strengthen AP control and visibility while reducing inefficient tasks. How it works:
📥Imports lists from your accounting software so they are available for coding right away
💸 Import other transactions such as payments and purchase order feeds
🔄 Output files are configured to be imported back to your accounting software, meaning no double entry
Why Quadient AP is the smart choice
We are an end-to-end AP automation platform used by 2100+ finance teams to streamline their purchase to pay process. With us by your side, you can:
💫 Manage invoices, POs, payments & expenses in one platform
⚡ Approve invoices 9x faster with digital approval channels
🦾 Eliminate data entry and other manual tasks with AI
See how our platform works in under 5 mins 👇
Schedule a demo today
Discover how Quadient AP by Beanworks can help you minimize manual data entry, reduce risk, and free up your team to focus on high-value tasks.
Our demo helps us:
1. Understand your workflows to ensure we’re a good fit
2. Define project goals & establish criteria for success. If you win, we win
3. Demonstrate our product features with a focus on your needs
4. Share pricing details and answer your questions
"Before Quadient AP, our AP clerk was spending 30-40% of their time doing data entry and keying in invoices. Quadient AP has eliminated a lot of that. We’re saving at least 50% of our time in accounts payable."
— Dean Olevson
Director of Finance, Radisson Blu Minneapolis Downtown
