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AP Automation: Don’t Wait

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It’s nearing the end of the year and 2014 budgets are at the forefront of our minds. There is a heightened awareness of spending and the dreaded “c-word” emerges — cuts. I have been helping companies using Microsoft Dynamics ERP transition through AP Automation projects for more than 10 years, and they are always amazed at how much money and time they save in payment processing. It’s usually an area of their business they didn’t realize was so heavily burdened with costs that could be eliminated.

The first reason for AP automation is cost savings. AP automation also has many other valuable long-term benefits including an average savings of 60 percent or more on their payment processing costs.

The second reason why you shouldn’t wait to automate is best exemplified by a phrase that I have coined, “new time”. This is simply the time that is freed up as a result of tasks that have been eliminated or streamlined in the AP process, because of AP automation. Time is definitely a commodity and I encourage anyone considering AP automation to develop a plan for the “new time” they will have available to them so that it can be used to its full potential. When your AP staff no longer has to do mundane tasks, such as opening mail and entering data manually into Dynamics ERP, they have time to pursue meaningful activities, such as identifying vendor discounts and negotiating pricing and contracts.

The third reason is the ability for your company to grow without having to hire additional AP staff. When companies grow, their invoice volume grows with them. With a manual process, additional AP staff would be required to handle all of the time-intensive tasks. In an automated environment, these manual tasks are eliminated and the overall process is streamlined. The role of the AP clerk in an automated environment is to verify the information on the invoice is correct and coded, and then assigned to the right approver(s) within the workflow. Also, since all of the information is stored in one location, there is a dramatic decrease in the number of inquiry calls from vendors. Essentially, automation removes all of the heavy lifting, so even if invoice volume skyrockets, the process for receiving, approving and paying them is reduced to three steps: code, approve, and promote to the General Ledger.

To see how AvidXchange helps companies using Dynamics ERP automate their AP process, visit us at

by AvidXchange

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