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Accounts Payable Automation: Key Benefits and Why It’s Crucial for Growth

Accounts Payable Automation

Automating accounts payable is becoming more and more popular with companies. It’s important to look at the reason why this has been growing in popularity along with the benefits that come with it. Read on to learn about the current state of AP, benefits of automation, Beanworks, and an upcoming webinar!

Current State of Accounts Payable

The current state of accounts payable is the trend of companies moving to AP automation. This is a combination of both  digital transformation and the shift to remote work throughout the past couple years. A lot of companies began this shift with the recent pandemic and invested in AP automation. Those who have invested have seen some pretty significant benefits and their success has lead to a further increase in other companies moving to AP automation.

AP Automation Benefits

Benefits of AP Automation

 While some are still hesitant, those who have automated their processes are seeing big benefits. These benefits range from increased company growth, productivity, and savings. Here are some statistics Beanworks has reported on companies who have moved to AP automation:

7 in 10

Report increased collaboration between finance and nonfinance employees

73%

Say their company qualifies for more early-pay discounts than they did preautomation

89%

Report decreased labor costs

77%

Report improved vendor relationships

On top of this, AP departments have reported benefits like better forecasting and quicker approval times. Alsmost 80% of accounts payable departments say that their team has been able to reallocate resources to higher-level duties as a result of automating the AP function. It may be time for your company to make the move.

Beanworks and Sage AP Automation

Beanworks is an accounts payable automation software company that is designed for accountants and was built by accountants. They have a goal of empowering accounting teams to succeed by automating all things AP. 

Sage AP Automation, which is powered by Beanworks, provides real-time information on bills as they proceed from purchase order through coding, approval, and payment. It works in tandem with Sage ERP to relieve teams of time-consuming and error-prone activities while giving users total control over the whole AP process.

Beanworks AP Automation
AP Automation

Both Beanworks and Sage AP Automation provide a way for you to start your accounts payable automation journey in order to help set your company up for success. Don’t wait any longer!

Beanworks AP Automation Webinar

Join this webinar to find out:

Beanworks: How to Automate Accounts Payable Webinar

Tues, December 7th 2021
10am PT / 1pm ET

Want to learn more about AP Automation?

Contact us or check out our resource center!

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Categories:
Accounting DSD Business Systems Sage Sage 100cloud
Tags:
AP AutomationSage 100Sage AP Automation