Apr 26, 2016
Reason #2: Cash Optimization
Sure, automating accounts payable translates into savings due to reduced time and effort. That alone can certainly justify the investment. But at the end of the day, greater control over cash and better visibility to cash flow impacts of AP delivers even greater value.
One way that achieving greater control over AP processes allows organizations to optimize cash is a greater ability to cash in on early pay discounts, while avoiding late payment penalties. Automated AP solutions like Artsyl Technology’s InvoiceAction include early payment discount and late payment penalty alerts that monitor and highlight these opportunities.
Depending on the terms and conditions of your vendor agreements, smart AP processes can lower costs by 30% or more simply by capitalizing on early pay discounts and avoiding late fees.