Accounts payable (AP) is a vital aspect of every business, but it can also be a laborious and mistake-prone procedure. Manual AP processes often result in payment delays, incorrect records, and a higher susceptibility to fraudulent activities.
Accounts payable automation can help businesses to streamline their AP processes and improve efficiency, accuracy, and compliance. By automating AP, businesses can free up their employees to focus on more strategic tasks, while also reducing the risk of errors and fraud.
AP Automation Benefits + Factors for Syteline Users
There are four main benefits of AP automation for SyteLine users, including:
- Improved efficiency: AP automation can help businesses to streamline their AP processes and reduce the amount of time spent on manual tasks. This can free up employees to focus on more strategic tasks, such as managing vendor relationships or negotiating discounts.
- Increased accuracy: AP automation can help businesses to improve the accuracy of their AP records. This is because automated systems can help to ensure that invoices are properly matched to purchase orders and that payments are made on time.
- Reduced risk of fraud: AP automation can help businesses to reduce the risk of fraud by providing a more secure way to process payments. Automated systems can help to prevent unauthorized payments and detect fraudulent invoices.
- Improved compliance: AP automation can help businesses to improve their compliance with government regulations. Automated systems can help to ensure that payments are made on time and that invoices are properly documented.
Key factors when considering AP automation for SyteLine
After speaking with a number of SyteLine users at the SyteLine User Network Conference here are a few factors they thought to keep in mind:
- Are you receiving invoices via paper mail or email?
- Do you want to be responsible for managing an OCR solution or would you prefer it to be truly touchless?
- What is your preference for document storage within SyteLine?
Nimbello's Key Takeaways
Having a number of customers within the SyteLine environment, we believe Accounts Payable automation can be a valuable tool for businesses that are looking to improve efficiency, accuracy, and compliance.
Automating your AP processes can free up your employees to focus on more strategic tasks, while also reducing the risk of errors and fraud.
Interested in Learning More?
If you are interested in learning more about AP automation for SyteLine, please contact us at Nimbello!