Understanding the Cost of AP Automation

Understanding the Cost of AP Automation

What is the true cost of AP automation? Many organizations have weighed the benefits of automation but have held off, believing the transition adds to the cost of doing business. However, the cost of doing nothing can be far greater.

Time Is Money

AP automation delivers the most direct value when it comes to saving time and labor. An annual budget factors in the cost of labor—yet for many organizations, manual AP processes carry “invisible expenses” that inflate this cost unnecessarily:

  • Manually entering data.
  • Verifying information is accurate.
  • Printing and signing checks.
  • Storing documents and reconciling payments with accounting systems.

Even when performed accurately, these extra tasks are time-consuming. When there are errors, even the most conservative budgeting won’t save you from added costs.

The Hidden Value of Visibility

Aside from reducing operational expenses, AP automation provides many other benefits. By reducing the need for manual entry, organizations have more time to gather insight into their finances and make informed decisions about future spending. Paypool captures all the details of the payment process—from the moment an invoice is received to the moment that it’s paid—creating deeper visibility into the data. Additionally:

  • AP transactions are scheduled and completed quickly, making cash flow more predictable and available.
  • Payments are never in a state of uncertainty while they’re in the mail or awaiting processing.
  • AP automation seamlessly integrates with card-based payments, enabling even faster payments.

Implementation Costs

Adopting an AP automation solution always involves some cost. But choosing Paypool makes the transition simple with a cloud-based AP automation approach so you’re unencumbered when making the transition.

With Paypool, AP automation transforms your payment process, eliminating time-consuming tasks from GL Coding to approval routes and payments. Set up is simple to navigate with unlimited user profiles and approval routes. Plus, we record every action a user takes so nothing goes unaccounted for.

Your Accounting System

Paypool syncs with your accounting system to track every invoice and payment securely. With AP automation you’ll never need to update files or track down missing information. We integrate with countless accounting systems, supporting both custom-built cloud integrations and simple file exports, including NetSuite, QuickBooks, Intacct, Abila MIP, and hundreds more.

How We Price

Paypool’s pricing is based on volume. We charge per invoice and per payment on a monthly basis. Your monthly price could fluctuate depending on the number of invoices and payments your organization processes during a single month.

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