5 Questions To Ask Before You Automate AP
Automating your AP department is a big step, one that can help your company improve invoice processing and save money. To make sure the transition goes smoothly, there are 5 questions you should answer before going ahead with automation.
1) What’s Our Goal For Automation?
Implementing AP automation goes more smoothly when you have a defined goal for automating. Are you trying to lower the cost-per-invoice? Streamline processing to eliminate late fees and get early payment discounts? Keep more accurate records?
When you define your goals for AP automation, you’ll have a better idea of what you’re looking for in an automation software system. It’ll also give you a baseline for measuring your success as you roll-out AP automation.
2) Who’s On Board With AP Automation?
Getting upper-level finance executives on board with AP automation is often a challenge. For automation to happen, everyone involved in the final decision has to recognize the need for it. If some are still hesitant, then your AP automation plan needs to include a business case that makes an airtight argument for automation.
3) How Will AP Employees Use Their Time?
Automation minimizes the amount of time employees have to spend processing invoices. That raises questions about how they’ll use their time once automation is in place. It also brings up the subject of whether or not automation will put anyone out of a job.
Typically, automation makes AP employees’ jobs easier rather than replacing them entirely. They’ll now have time to focus on quickly processing exceptions invoices, dealing with suppliers, and other more value-added tasks for the company.
4) What Will Automation Cost?
Figuring an exact cost for AP automation depends on several factors. The size of your company and which AP system you choose heavily influence the final cost. At NextProcess, for example, we charge per document processed. That means you’ll only pay for what you use in a given month.
Cost-per-invoice isn’t the only factor. There’s also implementation, training, and support to consider. A cloud-based SaaS system like ours is typically very easy and low-cost to implement and there’s a quick learning curve. Support is handled by the company whose software you’re using, so that also helps keep costs down.
5) Which AP System Will We Use?
You need a system that meets your automation goal, works with your existing process, is easy to use, and adds value to your business. There are plenty of different options out there – from setting up an on-site server that will handle AP automation to outsourcing the entire department.
Business process improvement software from NextProcess is the superior solution. We offer highly customization software that scales to your business so it’s specifically tailored to your accounts payable needs. To see first-hand just how well our system can work for you, contact us and set up a free demonstration.