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Accounts Payable Teams Invest in Automation

Happy New Year!  As we kick off this New Year we decided to ask our clients why they automated their accounts payable process in the first place, here’s what we found.

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AP Automation Pays Off

We asked our customers why they automated their accounts payable with Rillion.

Needed to improve accuracy overall 
As one customer said: “There were errors everywhere.” The company was paying all the invoices that came through the door and had no way to know if some of the invoices were duplicates or if they had mistakes. That’s why there’s a risk of fraud in paper AP processes: perpetrators can take advantage of processes that are not visible and transparent.

Needed to speed up the process 
The current AP process was slow because the organization had to manually get approvals and then type everything into the general ledger. They were struggling to keep up and valued employees were quitting.

The current process was too expensive
Even in the best months, when things were running smoothly and people weren’t leaving, it still cost too much to shuffle paper and sign/send paper checks. One client said:

“We had no way of knowing exactly how much money these companies were losing.”

Lack of visibility and control
How do you fix the problem and streamline the accounts payable process if you can’t track (in real time) all of your invoices?

Current manual process is not secure
Having a manual accounts payable process made it difficult to have any compliance or standardization for security purposes. Random late, unpaid invoices would go lost on employees’ desks and there was no way to enforce compliance policies around sensitive financial data.

Rillion provides a complete automated accounts payable platform:

  • Have all your invoices entered into your accounting system or ERP – automatically and with more accuracy
  • See the status of all your invoices in one central dashboard
  • Have invoices workflow to approvers in your company
  • Put invoices into project buckets making it easier to review by job
  • Let managers approve invoices on their phone or laptop 24/7
  • Have purchase orders matched automatically
  • Search for both paid and current invoices in a cloud-based archive

Avoid lost invoices, strained cash flow, fraud risk and late payments. Find out more about Rillion Accounts Payable Automation here.

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