You may not know it, but your business is being bullied.
The economic downturn, declining margins, and tight credits have all ganged up to take your business down. This has forced your company to scrutinize its internal business processes and look for ways cut operating costs and bolster its bottom lines.
And your accounts payable process is no exception.
Ways Your Traditional AP Automation Process is Bullying You
1. The Paper Mountain Wedgie
Even though there is an increasing number of invoices that are received electronically, many businesses still use paper-based invoices. To make matters worse, more companies are receiving invoices through email and printing them out on paper for processing. What a buzzkill!
Searching through endless piles of paperwork for the right documents wastes a lot of time for your employees. What’s more, paper storage is cumbersome, expensive, and carries the risk of a fire breakout.
2. The Vendor Overcharge Abuse
With intense pressure on account payable time and the increasing number of invoices coming in, it is very easy to have discrepancies on the prices and quantity supplied. With such blunders, you run the risk of losing a lot of money in supplier overcharges.
Furthermore, the lack of control and visibility across the accounts payable process can make you miss out on the early payment discounts (EPDs) offered.
3. The Invisibility Attack
For non-automated AP systems, there is little visibility and control of invoices distributed for approval, coding, pricing, or query resolution. This processing system is just a waste of resources and time.
Without access to the proper information, the management will find it difficult to assess the priority and status of invoices as well as locate and address the processing bottlenecks.
4. The Extra Costs Tease
Paper-based AP processing is one of the sole reasons for costly and inefficient systems. Without proper AP automation, important necessities such as general ledger coding and manual invoice data entry can take up a significant amount of AP resources and time, thereby making your business sluggish.
Let SnapAP Stand Up to All Your Bullies
Whether you are looking to explore new levels of success or trim some waste in your business, Accounts Payable is a great place to start. In fact, AP automation is considered to be one of the best ways to cut on costs. With a reputable AP automation vendor, your business can efficiently meet the needs of your customers on a consistent basis while reinvesting more money to expand. Sounds good, right?
And there is no better way of automating your AP process than with SnapAP. This software aims at providing complete P2P automated processes, covering purchase orders all the way to the payments. More importantly, SnapAP adds more control to the system while eliminating wasteful processes.
Our automated AP solution also provides you with the relevant information that will help you negotiate with vendors for better purchase prices and payment terms. You’ll never miss out on the early payment discounts and always have constant communications with your suppliers.
Keep Your Customers and Vendors Happy with Our AP Automation Process
Proper management of payable invoices is an important process because it affects the ability of a business to keep cost low while increasing revenue. Errors during invoicing can do more than just cause a business to lose money – it can lead to losing of customers.
At SnapAP, we are an AP automation company dedicated to providing an efficient P2P automated process for your business.
Failing to handle your invoices properly can negatively affect your business’ reputation. You wouldn’t want to seem like a liability to your vendors and clients, would you? So, get SnapAP today!