Are You Still Squandering Company Time Using Outdated P2P Practices?

You’re on hold for the third time this morning with the same Supplier. The amount on their Invoice doesn’t match your Purchase Order. Frustrated, you take a mental inventory of the mountain of Invoices piling up on your desk waiting to be paid. You hear the drone of the dial tone – you’ve been cut off again. But if your company had streamlined their Procure-to-Pay process by implementing SnapAP’s Accounts Payable software, the defect that you are dealing with would not exist and there would be no paper!

Stop Wasting Time and Money Chasing Suppliers

Countless hours are lost by AP staff forced to track down lost Invoices, handle discrepancies with Suppliers, and work with old-fashioned procurement systems. But SnapAP has automated Procure-to-Pay procedures revolutionizing the way P2P processes work and there are no lost Invoices to track down. AP automation saves time and aggravation. Imagine how accurate and efficient your Employees would be by using electronic Invoices and Purchase Orders. And your Suppliers would have easy access 24/7 to your system to enter Invoices without investing in any special software on their end.

AP Automation Eliminates Tedious Procure-to-Pay Procedures

Manual three-way matching is inefficient, outdated and time-consuming. Not only is it labour intensive, but often delays payments that can result in late fees and penalties. According to Aberdeen Group’s 2010 AP research studies, the average time to process a single Invoice is a whopping 17.4 days.1 But with SnapAP’s efficient Procure-to-Pay automation system your Purchase Orders are sent to your Suppliers electronically, and the Supplier’s Invoice is matched to the Purchase Order and Receipt – further reducing the risk of errors and defects and the Invoice cycle time is measured in minutes! Gone are the days of lost, duplicate or inaccurate Invoices when you’re using SnapAP’s Accounts Payable software.

Profit from Early Discount Payments

Whether you’re processing hundreds or thousands of Invoices, taking advantage of early payment discount terms is easy and profitable. With SnapAP, you decide if you take advantage of early payment discounts based on your current cash flow. A one or two percent negotiated discount can add up to substantial savings and put your company in a favourable position with your Suppliers to negotiate even better payment terms in the future. With AP automation, the risk of human error is reduced and missing payment deadlines are no longer an issue.

Smart companies are taking advantage of efficient Procure-to-Pay solutions. Emerge from the Dark Ages. Invest in SnapAP’s Accounts Payable software and make your AP procedures simple and seamless in real time, every time.

Source:
1 Jan, W., Pezza, S., & Tyagi, A. (Aberdeen Group). The E-Payables Solution Selection Report: A Buyer’s Guide to Accounts Payable Optimization, October 2010.

 

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