Automation Can Significantly Skyrocket Savings

Running a business smoothly is no easy task, but it could be made easier if you didn’t put everything down to chance. Whilst your employees are likely hard working and determined, it’s no secret that humans are prone to mistakes. It’s part of our nature. That’s why putting everything down to a “manual process” could be causing more harm than good to your organization.

Automating AP and back-office processes could really help your business excel. So many companies have saved thousands or MILLIONS of dollars simply by automating the process of routing invoices for approval and entering data. These are all tasks which don’t have to be left to your employees to complete now, as mistakes are otherwise bound to be made eventually.

A recent report by PayStream Advisors, Pitching ROI for Accounts Payable states that automation can increase discount capture from 5% to 35%. You should be saying goodbye to outdated formats, as this is likely holding your company behind and wasting your astronomical amounts of money. You could be saving on a big scale, even if you don’t realize that yet. You don’t need to be using paper format for invoices, as this is an unnecessary waste of two resources: money and the paper itself.

If you want to be catching early payment discounts, an automated AP system could help you achieve this, and a failure to have one is where so many other companies fall down. Automated procedures save you money and save your customers money. Cloud based, automated procure-to-pay (P2P) software systems help you save an average of 10 to 20% by slashing your costs.

You can achieve savings through Better control to around 0.5%, improve 0.3% with better control from financial reporting, reduce Customer Inquiry Time by 5.0% time, reduce Payroll Preparation Time by 10% , and also 2.0% reduction in managers saves around 10% of your expenses.

Companies like yours have seen incredible results such as

  • Reduction of 68% leads times to customers
  • A great improvement of 66% perfect order metrics.
  • Perfection in order percentage to 91% or better
  • Reduction in Logistics costs as % of sales is 6% or less
  • Higher performing supply chains can incur lower selling costs
  • Better replenishment enables faster collection of receivables
  • Utilization of optimal inventory targets results in less cash tied up in inventory
  • Optimal use of existing distribution assets (warehouses, fleet) reduces need for capital investments

Not only this, better cash flow from lowered supply chain costs and unnecessary assets drive higher credit rating and lower borrowing costs are already great advantages they have received.

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