Accounts Payable Automation Software with Sage Intacct
Published on: 22 December 2021
During the last five years Rillion has acquired companies keeping the original setup but from February 5th we´re all united in one new visual identity. By reshaping our appearance, we go to market as one company offering AP Automation to anyone worldwide – no matter size, industry, or ERP system.
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Organizing the processing of hundreds, or even thousands, of invoices can be a time-consuming and stressful job. For obvious reasons, people get pretty upset when payments are delayed. Taking care of AP (Accounts Payable) manually just doesn’t cut it anymore. The processing time is simply too high.
Fortunately, there is an alternative.
AP automation software can save 60% or more on processing time, free up valuable resources, reduce payment delays, and save money. If you use Sage Intacct as your main financial management system, you’ll be pleased to find out that you can get powerful AP automation software that integrates seamlessly with the platform.Let’s take a look at a few benefits you can gain when you decide to integrate AP automation software with Sage Intacct.
Processing invoices manually is expensive. Research from Sterling Commerce shows that a manual process costs between $12 and $30 per invoice, on average. An Aberdeen Group whitepaper found that automating AP resulted in 40% to 60% savings compared to manual processing.
In other words, let’s say your current cost per invoice is $20 when you process it manually. Introducing AP automation software could reduce it to somewhere between $8 and $12. Imagine multiplying this saving across all your invoices each month or quarter, and it becomes pretty clear that AP automation can seriously increase the bottom line.
Almost as important as the cost savings that are generated by AP automation is the time saving benefit. You can save as much as 70% when compared to manual processing, as automotive component manufacturer US Farathane discovered. In turn, this led to a 43% drop in associated costs. They were also able to increase invoice volume by 20% without taking on any extra staff in the accounts department.
Also, with an automated system, the turnaround time per invoice is significantly reduced. The Aberdeen Group revealed that companies who apply minimal automation take around 16.3 days to process an invoice. With AP automation this time period can be reduced significantly. A fully automated system can reduce both handling and cycle times.
Last but not least is accuracy. Using a manual method to handle and process invoices opens up the possibility of human error. This is especially true as a company grows and the accounts department struggles to keep up with the surge of invoices. Automating your AP process means that human error is limited or eliminated entirely. This helps you to save more money and improves your reputation with suppliers.
Are you ready to save money, time, and improve the accuracy of your invoice processes?
You’re already using Sage Intaact to take care of all your main accounting processes and workflows through a cloud-based platform. To move things to the next level, automate your accounts payable processes.
Find AP automation software that:
Rillion’s AP Automation solution for Sage Intacct provides invoice data capture, approval workflow, automated 3 way matching, a searchable invoice archive and a complete time-stamped audit trail. See more here.