Author: Kevin B Reed 11/7/22
Accounts payable functions are often repetitive and time-consuming manual processes. With labor shortages this becomes even more burdensome when dealing with multiple vendors that utilize different forms of payment.
Automating repetitive and tedious manual processes would establish a more efficient workflow and save time and money. Automated processes would require less workforce. But that does not mean fewer employees. It will cover the positions in short-staffed teams and departments that so many industries are having a difficult time recruiting.
Corporations could count on timely payments and better workflow by using automation for all payment types. And with the right accounts payable automation technology, companies would be able to get more done even with fewer employees. They would be able to focus on hiring and recruitment in departments with a more direct income line, such as customer service and sales.
How does AP Automation Helps Your Short-Staffed AP Department?
You gain full visibility of all payment activity reducing the need for several people to review and approve payments.
You have a cloud-based payments processing platform that can be accessed at anytime from phone, tablet, or computer that is the best way to ensure suppliers get paid on time and strengthens buyer and supplier relationships. Plus, maximizing virtual card payments are safe, secure, and help to minimize check fraud.
Accounting crosses industries and can be automated by every business, from small businesses to huge corporations. And since being understaffed is a country and industry-wide occurrence, everyone can benefit from AP automation.
To learn more about how AP automation can increase efficiencies in your business and earn you cash rebates monthly reach out to Reed Advisory Group by completing the contract form on our website and we'll be happy to set up a discovery call with our industry-leading experts.
Please fill out the contact form to schedule a meeting with us. We will be in touch with you soon.