Automation within Accounts Payable is very much attainable, regardless of how daunting a task it may appear. Current research demonstrates that some 50% of users claim that the manual processing time on invoices is at least three days–with some users saying it takes up to 25 days! Surely there’s a more efficient way this could be achieved through automation!
The best way to begin is through examining what roadblocks you may encounter on your automation journey. Usually, the first issue is securing approval to even being the journey due to work overloads, budgeting concerns, and even antiquated thought-processes that make for a resistant environment. So, what can you do to help cut through this red tape and make automation a priority?
Think about what the supposed reaction may be, then map out how the existing facts on automation combat those reactions. A good start is:
- Investigating how AP Automation will enhance the company’s overall quarterly or annual financial goals
- Finding examples of how automation can improve the work-lives of the top decision-makers at the company
- Determine how simple integration of the AP systems will be with your current systems
- Determine how quickly a positive impacts will be seen and can be noted/recorded
In general, there are many positive sides to automation that you can easily provide as evidence. Begin with considering the major things, such as expedited processing times, dramatic reduction of costs/fees, as well as better, more streamlined customer satisfaction. These are all components that will benefit the whole company, which is something senior executives find hard to ignore.
In demonstrating to senior executives that successes, increased profits, and increased efficiency are on the horizon, you will be able to more easily garner their support to successfully implement automation. The benefits of AP automation far outweigh the costs, and Mitech Solutions is here to help you successfully strategize effective methods to achieve it as quickly and painlessly as possible.