Accounts Payable Return on Investment
What is the return on investment for automating Accounts Payable?
The recent pandemic has pushed businesses to face a multitude of operational deficiencies in their current processes they may have been unaware of otherwise. Perhaps none more so than the glaring need for business continuity planning and remote process enablement in all areas of business operations.
One step forward in the automation of digital documents is improving the Accounts Payable operations. In this article, we’ll go through how to see a return on your investment and key elements we’ve included in our software to seamlessly improve your team’s workflow processes.
Here are 5 things to consider for automating your Accounts Payable.
Identify & collect these AP numbers:
- How many Invoices do you process in a typical year?
- What percentage of those Invoices are related to a P.O. and Receipt(s)
- What is the typical hourly rate (fully absorbed/including overhead) you would use for invoice entry and matching?
- How many people do you employ that are capable of AP Invoice Entry today (even if not always a part of their job)?
- Estimate the hours per week spent matching and entering AP Invoices (specifically those that match to a PO and Receipt)
Accounts Payable teams have the responsibility of ensuring vendor and supplier invoices are processed, approved, and paid on time in order to keep the business moving. An efficient AP Automation solution like Dash AP Robot™ can help you to achieve that mission in the most effective way possible!
There are many ways to get started with Accounts Payable Automation. We are here to help you get going!
Once you have these numbers, send us your information and we can perform an analysis on how we can drive cost savings and an almost instant ROI. We sit down with you individually and go through the numbers together; talk through the process and see what options are most effective for your team.
About the Author:
Stephanie is the marketing guru at Dash. For over 20 years, Dash has been authoring, delivering, and supporting Dash DDX™, its ERP-integrated Document Automation software to small and mid-sized manufacturing and distribution companies throughout the USA and beyond.
Ready to review your numbers? Send us your numbers:
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