5 Reasons Companies Are Automating Accounts Payable

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80% of organizations are looking to automate and move core applications to the cloud in order to provide better access to processes and information while AP and finance teams continue to work from home. This has led to a drastic increase in demand for cloud-based AP and payment automation solutions.

Here are just a few reasons companies are implementing cloud AP automation.

Increase Process Efficiency

74% of AP professionals state manual data entry is their #1 process challenge. Manual AP processes usually involve lots of paper and lack of visibility into invoice and payment processes. Implementing an AP and payment automation solution can help improve efficiency and productivity, as well as a digital financial audit trail.

 

Save Time, Money, and Resources

Your business can see measurable results with automation, such as invoice processing costs reduced by 80% and a 40% reduction in the number of checks written per month. In addition, many businesses that implement a cloud AP automation solution see significant ROI, typically within the first few months.

 

Improve Employee Work Life

Many companies see automation as an investment to improve their employee’s work lives. Implementing technology that streamlines processes and improves visibility will ultimately reduce team stress and gives incentive to perform better and be more productive.

 

Promote Scalability

A cloud AP automation solution prepares your business for modernization, growth and ongoing adaptation to the “new normal.” AP automation can transform your invoice process from manual to modern while providing security, peace of mind, and complete system management.

 

Remain Competitive

Going digital is no longer “if,” or “when” – it’s how fast. Many organizations are implementing digital-first, cloud-first initiatives. In order to gain control over their organizational spend and remain competitive in the market,  they have made automation a top business priority.

 

AP Automation with KwikTag

 

With 20+ years of experience in the Dynamics community, KwikTag offers AP automation solutions that provide a completely digital, touchless workflow for payables and purchasing related invoices. AP automation with KwikTag minimizes data entry, saves time and increases efficiency by automating invoice and payment processes.

KwikPayables Accelerate for Dynamics GP combines intelligent data extraction and artificial intelligence (AI), with a real-time connection to GP that validates and populates vendor information, GL codes and other relevant invoice data. Invoices are then routed for online or email approval and, upon approval, the relevant transactions are automatically created in GP. Invoices, while stored in KwikPayables Accelerate, are visible in GP.

Read more from KwikTag on ERP Software Blog here.

Learn more about KwikPayables Accelerate, the intelligent AP automation solution, at www.kwiktag.com.

 

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