Accounts Payable (AP) Automation Toolkit

Jul 9, 2020 12:08:02 PM

Accounts payable (AP), as a process and a team, plays a crucial role in the smooth functioning of any business. Automating it makes the process easier, quicker, error-free, and therefore saves your time and costs.

As we all know, accounts payable is the amount that a company owes to its suppliers or vendors for the goods or services purchased from them. This owed amount is recorded by the AP team based on the invoices, to ensure it is paid on time and the business functions run seamlessly.

Any data discrepancies or errors can cost the company heavily not only in terms of money but also in supplier relationships, brand image, and time wasted in revising or correcting the mistakes. Therefore, accounts payable automation has become more of a necessity today than just another option.

AP Automation


Benefits of AP automation

Here are some of the benefits of accounts payable automation:

  • Time-efficient process through on-time invoice payments without having to check
          manually and process payments
  • Complete visibility into the process and more transparency in all communications
  • Cost reduction by avoiding all the additional costs associated with data errors
  • Higher accuracy of data with less human intervention
  • Motivated employees as the staff can focus on more business-critical tasks than spend time on manual,
          lengthy AP process

With AP automation being such a vital process in your business, you might be interested in knowing more about it. We have put together an AP automation toolkit that includes all the necessary resources to help you gain in-depth knowledge on the process and also to help you with or prepare you for implementation

Here’s what the AP automation toolkit includes:

  • A Comprehensive Buyer’s Guide: Accounts Payable Automation
  • Accounts Payable Factsheet
  • Videos on To-Increase MediusFlow
  • Accounts Payable Automation Savings Calculator
  • Tips to Choose the Right AP Automation Solution
  • All-Pervasive Advantages of AP Automation Infographic
  • AP Automation Purchase Checklist

This AP automation toolkit is a great resource if you are from the procurement, manufacturing quality, financial reporting, and audit, or even the AP department itself.

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Toolkit

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About Author
Martien van Dam

Martien van Dam

Having started his career with To-Increase, Martien has honed and contributed his expertise across multiple roles and domains for 15 years now. Besides Microsoft, he’s also worked closely with all kinds of stakeholders in the ecosystem—including software vendors, CFOs, Accounts Payable (AP) clerks/managers, logistics managers—and is cognizant of their challenges and needs. Therefore, as a Sales Specialist for our Business Productivity and Accounts Payable domains, Martien brings a balanced mix of different market perspectives from various global associates to the table. On the personal front, Martien enjoys meeting people and experiencing cultures, and has visited around 75 countries. He's passionately involved in voluntary work and loves spending time with his three kids in the great outdoors. Martien holds a Bachelor of Commerce in International Marketing Management and Business Process and Project Management.

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