In fact, industry reports indicated that most accounts payable practitioners surveyed are optimistic about the progress their department will make over the next three years in eliminating paper invoices altogether. And the reasons are clear; we’ve all heard them by now: Saving time, saving money, and increasing efficiencies and staff productivity.
But finance execs want to know, what does that mean exactly? And how do the benefits of trading in tedious, manual processes for automated AP workflows translate directly to the bottom line? In this article published to Finance Executives International’s FEI Daily we look at some of the most impactful benefits and consider the dollars and “sense” of:
- Increased productivity
- Capturing early payment discounts
- Money saved on shipping and storing of documents
- Lower invoice processing costs