Airline and Aerospace Industries Automation
The airline and aerospace industries are constantly upgrading to the latest technologies for their planes and equipment to ensure efficiency and conservation of supplies and money. But when it comes to their accounts payable departments, oftentimes the airline industry is stuck in the world of paper invoicing and losing money because of it.
Airlines constantly operate on a thin margin- that’s nature of the beast. Unfortunately, that margin can be profoundly affected by variables such as rising fuel prices and the flying habits of consumers and businesspeople, and it’s the same with the growing private aerospace business.
Despite these setbacks, many of the airline and aerospace industries’ AP departments are soaring due to a decision to level-up their accounts payable processes. For example, not long ago one of the world’s largest airlines turned to industry leader iPayables to put their inefficient system behind them. iPayables was able to switch the carrier to the most flexible and accessible accounts payable automation solution available, InvoiceWorks®. By switching, this carrier was able to reduce AP staff by over eighty percent, drastically reduce errors and improve invoice processing turnaround time.
Private aerospace companies are also learning the benefits of leveling up accounts payable processes. What used to be handled exclusively by giant agencies like NASA is now being taken over by private firms like Space X and Virgin Galactic. Stiff competition between these companies inevitably leads to a need to cut costs, and enterprise-level AP automation is a powerful cutting tool.
By switching to an automated accounts payable workflow, your AP department will lose the unnecessary weight of paper that slows your department down. Not only that, but your relationship with your suppliers will never be better. Enterprise-level automation saves them paper and mailing costs, and where they once would have been on the phone chasing the status of an invoice, they can now point and click any hour of the day. The supplier portal is easy to navigate, and customizable to each supplier’s needs.
Automation may seem like a big project for your accounts payable department, but the time and money you save in the long run is more than worth the investment now.