Effectively Manage Accounts Payable with AP Automation
It’s no surprise that automating the invoicing process would make it much easier to manage accounts payable. But just how easy does it become to manage accounts payable when you’re using enterprise-level automation? Some of the benefits include dashboards that provide insight on AP’s performance, unlimited users so tasks can be delegated to anyone on the team, and visibility to leadership on AP’s improvement after automation.
Dashboards for Visibility
Many enterprise-level accounts payable automation solutions provide dashboards to give insight on how AP is doing. With dashboards being on the homepage, authorized users can see things like tasks in need of attention, productivity info, discounts saved, etc. Many times, these dashboards are also customizable, so users can choose exactly what stats they want to appear on their dashboards.
It’s important for a solution to provide unlimited users on their software. This way, anyone in the accounts payable department can be granted access to make approvals, etc. User permissions can be defined so that, depending on position, users can be provided access to different functionalities. Additionally, users across departments can be given permission to access the portal—so relevant approvals can be routed to the correct department at the touch of a button.
With the advantage of having unlimited users in your accounts payable automation software system, that means that CFOs can view stats and analytics in AP, like their improved number of approval days and the amount they’ve saved due to discounts. On top of that, robust reporting functionality makes it so that AP can easily make any kind of report, in order to send relevant AP stats to their higher ups—proving AP a savings center as opposed to a cost center.
A Streamlined Department
When departments are completely manual, or employ low-level automation, having to manage accounts payable can be incredibly challenging. Accounts payable departments that implement best-in-class automation are proven to have seen incredible success and improvement. By getting your company on board with implementing AP automation, managing accounts payable becomes streamlined and simple, with the mundane work taken care of and the more value-add tasks being given the spotlight.