There’s a lot of hype around automating accounts payable (AP), but is your organization discussing the strategic benefits of automating its entire purchase-to-pay (P2P) cycle?
In any organization, AP and purchasing activities are connected, so making these individual processes as efficient as possible benefits the overall P2P process. So, why not automate them using a single, integrated system?
5 Key Benefits of P2P Automation Include:
- Efficient cash flow management, to help keep your company’s books black.
- Better process control, to streamline and optimize workflow
- Real-time budget control and follow-up, allowing you to always keep an eye on funds
- Improved supplier management, to enhance your supplier relationships
- Early payment discounts captured, for even more cost savings
By eliminating paper and manual processing steps with P2P automation, many companies have saved time and money by leveraging online purchase requisitions and goods or services ordering, as well as a standardized approval workflow.
Electronic purchase order systems are great tools for improving productivity by giving requesters the ability to order items from a catalogue of pre-approved items. Buyers can immediately acknowledge once the approvals are received, then complete and place the order with the supplier in just a few clicks of their mouse.
Automating your organization’s entire purchase-to-pay cycle may seem like an overwhelming, time-consuming project — but with the right vendor, it’s effortless. Learn how Fresenius found their perfect vendor match and revolutionized their business with P2P automation.
Learn More About P2P Automation at the IOFM AP & P2P Conference and Expo in Las Vegas
Interested in learning more about P2P Automation? Be sure to stop by Esker’s booth (#305) at IOFM’s AP & P2P Conference and Expo to learn about our automation solutions! We will be giving away our flashing sunglasses and doing a drawing for an iPad. See you in Vegas!
