Once upon a time, in an office not so far away, invoices vanished into bottomless email threads, approvals took forever, and month-end felt like a battle with a fire-breathing dragon. But then, AP automation arrived—waving its magic wand, turning late fees into savings, lost invoices into searchable files, and endless paperwork into effortless workflows. The best part? This isn’t just a fairytale. With automation, businesses cut processing costs by 80%, speed up invoice approvals by 73%, and reduce manual data entry by 95%.
Here’s how AP automation transforms your business, no magic required.
1. Faster Approvals, More Productivity
In the kingdom of manual invoice processing, finance teams spend endless hours keying in data, printing forms, filing hard-copies, and chasing down approvals. But with AP automation, invoices land in your system and become searchable faster than you can say paperless!
The Magic Behind It:
- AI-Powered Data Capture: Reduces data entry time by 95%, eliminating errors and typos.
- Seamless ERP Integration: Ensures invoice data automatically flows to the right places, maintaining consistency without manual re-entry.
With an 80% faster turnaround on invoice approvals, your team is free to focus on strategic financial decisions instead of drowning in repetitive work.
2. Stop Costly Errors Before They Start
Even the most meticulous accounting team can fall victim to human error—duplicates, mismatched purchase orders, and incorrect billing. Think of automation as your financial magic wand, safeguarding your books against costly mistakes.
Built-In Safeguards:
- Automated Validation: Ensures correct invoices are paid while flagging potential issues.
- Duplicate Payment Prevention: Detect problems early before they spiral into expensive refunds or vendor disputes.
A Tale of Savings:
According to the APQC, U.S. organizations without automation can pay up to $12.50 per invoice to process manually. With automated validation, errors decrease—and so do your costs.
3. Gain 24/7 Visibility and Control
The effectiveness of an AP department often depends on its level of transparency. With automation, every invoice is stored in a centralized, searchable system, allowing you to see exactly where it stands—awaiting approval, pending payment, or archived for compliance.
Your AP Heros:
- Real-Time Data: Improves month-end closing with reliable information right at your fingertips.
- Searchable Digital Archives: Quick retrieval of any invoice using keywords, vendor names, or amounts.
- Audit-Ready Storage ensures compliance by keeping all documentation in one easily accessible location.
Pro Tip:
Better visibility means better cash flow management. Knowing when payments are due allows you to strategically use early-payment discounts and avoid late fees.
4. Reduce Costs and Boost ROI
From taking advantage of prompt-pay rebates to cutting the overhead costs of printing and storing paper documents, automated invoice processing pays off in more ways than one. Studies by IOFM indicate that switching from manual to automated invoice handling reduces processing costs from $6.30 per invoice to just $1.45.
Where the Savings Come From:
- Fewer Late Fees: Automated reminders and approvals ensure payments are approved and processed on time.
- Early-Payment Discounts: Meet vendor timelines with ease and use those savings for strategic investments.
- Lower Printing & Storage Costs: Eliminate paper filing once and for all.
In Action:
Companies often find these savings start accruing on day one, thanks to significantly reduced staff time spent on manual processing.
5. Let Your Team Focus on What Matters Most
With automated invoice processing, time-consuming tasks vanish, giving your team the freedom to tackle more meaningful projects—like financial analysis, budget strategy, and building stronger vendor relationships. A more efficient AP department also helps address labor shortages by letting fewer people handle larger invoice volumes with ease.
- Optimized Personnel Costs: Higher productivity balances out limited staff resources.
- Empowered Team Members: Freed from repetitive tasks, employees can focus on the heroic work of strategic initiatives, driving real impact.
Happily Ever After with AP Automation
Manual AP processing is more than outdated—it’s holding your team back. Automation isn’t just a trend; it’s a proven, data-backed way to streamline operations, cut costs, and empower your people to work smarter.
We help businesses turn their AP departments into productivity powerhouses. We’re on our own journey of innovation, and we know firsthand the power of automation.
Ready to turn the page? Our experts in Michigan, Ohio, Indiana, and Tampa, Florida are here to help you begin your AP automation journey.