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3 mins read

AP Automation

Reality Check: What to Expect from AP Automation

by Yooz Team Member, Laurianne on 06.12.2020

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When was the last time you unboxed a shiny new gadget or launched a new software tool? Do you recall the mix of excitement and expectations driven by the claims its vendor made? Functions and features that would be intuitive and make life easier, letting you get the job done while saving time and money.  

Yet it takes more than just a few minutes of exploring a new tech offering to discover which, if any benefits it really has in store. That’s true not just for consumer tech like a new smartphone or apps, but also for enterprise solutions because they are increasingly modeled after the services and apps we’ve come to appreciate in our private lives. 

Take one of the crucial functions for any company, large or small: Accounts Payable. It’s this team that has to handle the continuous influx of invoices, purchase orders and expense reports, making sure they are coded correctly and sent along for approval and finally payment. Not to mention dealing with exceptions and answering inquiries when things get gummed up.

 

There are quite a few vendors offering AP Automation solutions besides us at Yooz, as any market research firm will point out. But the devil is in the details. We’ve found from talking to our customers that often there’s a gap between expectations and reality once the system is up and running -- or running into problems. At the outset, many teams and their managers are worried that AP Automation will be hard to adopt and implement. They might be nervous that it will be difficult to integrate with their existing systems such as ERP software and on top of that could turn out to be a costly decision.  

So let’s do a reality check and take a closer look at those concerns.  

  • Hard to adopt and implement? Not with Yooz, since our solution is 100% cloud-based and can be up and running in a matter of days, sometimes even hours. We have a dedicated implementation and customer support team that listens closely to a company’s needs and helps with onboarding every step of the way. Yooz integrates with more than 200 financial management systems, so making the connection with your existing infrastructure couldn’t be easier. 

 

  • Difficult to use? Not at all, since the Yooz front-end runs in a regular browser or on a mobile device. Intelligent software behind the scenes scans and understands every document, automatically assigns the correct GL code, matches an invoice to a PO and forwards invoices to the right people to approve. They can do so on the go, no matter where they are. Yooz, in short, offers a touchless workflow from invoice to payment.  
  • Not powerful enough to handle thousands of invoices? Quite the contrary! Due to its continuously refined machine learning algorithms, Yooz actually becomes smarter the more you use it, recognizing particular documents from particular vendors or suppliers no matter what format or perhaps quirky templates they might use. So instead of being stumped, Yooz remembers what it has seen before and only rings the alarm bell when it notices a true exception or suspicious document. Your team doesn’t have to do hand-holding for the new technology but instead has more time to focus on value-add tasks. They can even search for any word in any invoice as if running a good old web search.       
  • Costly? Far from it! Yooz doesn’t lock you in with a lengthy contract and instead offers risk-free and transparent per-document pricing. Our customers can quickly cut their cycle time from weeks to hours and no longer have to shuffle paper. That means they benefit from discounts, avoid late fees, and can optimize their cash flow. The overall cost per invoice goes down by up to 80% and quickly makes a difference for the bottom line. 

So there’s no reason to curb your enthusiasm when it comes to tackling AP Automation. With Yooz, we’re confident that your experience will meet and beat your expectations. 

 

Find out more about the key highlights of the AP Automation software and why Yooz is the ideal AP Automation solution that truly delivers, in the On-Demand Yooz Webinar, https://cloud.getyooz.com/webinar-ap-automation-expectations-vs-reality-on-demand