The Benefits of Unlimited Users in an AP Automation Portal
When it comes to accounts payable automation, some solutions will charge a fee per-user to access invoice information on their online portal. This expense may seem necessary, but what about when people from other departments have invoices that require their approval? What if an issue or exception would better be resolved by someone outside the AP department? With the extensive personnel involved with large businesses, these costs stack up quickly. Enterprise-level AP automation solutions provide access to unlimited users in an AP automation portal at no extra cost, so all applicable personnel across departments can easily access relevant invoices. This kind of functionality takes a huge work load off of the AP team’s back.
Early Pay Discount Abilities
With an online portal, organizations are able to take advantage of huge savings with the dynamic discounting feature. Accounts payable can negotiate an early payment date with suppliers, so that suppliers can offer the organization a discount on their payment. This guarantees that suppliers are paid on time, while providing accounts payable the opportunity to reap savings. Then, with online portal access, relevant parties like CFOs are able to see exactly how much accounts payable is saving their company with dynamic discounts.
Custom Reports
At face-level, portal users can see general dashboards. These can be individualized for each member of the team, from cash management information for CFOs, to “at-a-glance” invoices that need attention for users. Beyond the dashboards, users can create custom reports, that allows them to search any and all invoice data with their own criteria. These reports allow for analytics and insights into the procure-to-pay process in order to benefit the whole company. Thanks to these comprehensive reporting abilities, AP and other departments can easily create reports based on department-specific needs and information.
Effective Supplier Management Tools
With an enterprise-level solution, various tools for supplier management are offered to online portal users. Communications and disputes take place directly on invoices, so there’s no longer a need for fielding supplier phone calls. Additionally, authorized users are able to view various analytics in regards to suppliers, such as which ones are offering discounts, which ones have increased prices, and which ones are inconsistent with when they deliver on goods and services. This way, executive decisions can be made about which suppliers are loyal partners, and which may need to be reconsidered.
Automated Approval Workflow
In a partially automated or manual department, AP oversees making sure invoices reach the correct department. With high-level enterprise automation, this process is taken care of. With a set of given rules, the system automatically pushes invoices through to the correct department. With an unlimited number of users having designated portal access, users across departments can automatically receive and easily approve applicable invoices online through the portal.
The Bottom Line
A solution that offers unlimited users in an AP automation portal for no additional cost is fit to accommodate an enterprise business’s extensive headcount across departments. This way, the organization doesn’t have to pick and choose who they think is worth an online access fee. With unlimited access across departments, accounts payable is able to work seamlessly with the rest of the organization while bringing huge benefits. When it comes to accounts payable in enterprise businesses, enterprise-level automation is essential to keep the company afloat.