Your business depends on efficient cash flow.
However, many AP teams still rely on time-intensive, manual processes that tie up cash and slow business growth.
AP processes involve many manual steps, especially when handling exceptions and approvals. These processes are inefficient, error-prone and often result in late payments. If you don’t pay vendors on time, you will incur penalties and won’t be able to negotiate for discounts or other perks. Essentially, you’re giving money away.
Late payments can also limit your business’s ability to grow, as you might not get the inventory or services you need to run your business. Manual AP processes can also increase your costs, especially as your invoice volume grows.
If you don’t address these problems, you will have difficulties scaling your business. You will also continue to see increased costs and employee frustrations.
Download now and discover how to make your AP workflows more efficient for cost savings and a superior customer experience.