There are many benefits of an automated accounts payable (AP) solution.
Beyond streamlined invoice processing, one of the most tantalizing benefits of accounts payable automation is improved cash flow. Cloud-based accounts payable solutions provide real-time visibility into cash flow and overall corporate spending.
Graphical dashboards, data drill-down capabilities, ad hoc reports and data experts enable decision-makers to identify patterns, proactively identify maverick spending, and help ensure budget compliance.
Automating accounts payable with invoice processing software also reduces the possibility of costly late payment penalties and opens the door to more early payment discount opportunities. And paying approved invoices with a virtual credit card can drive cash into the business through cash-back rebates.