Automation vs. Manual: Why choose automation for accounts payable?
Even though you understand the fundamental advantages that accounts payable automation may provide to your workflow, like saving time and money and boosting visibility, you may be unaware of what distinguishes automation from manual AP. Many companies have considered the benefits of automation but have resisted because they believe the transformation will be too costly or difficult to achieve. However, the cost of doing nothing can be far higher.
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Here are the significant reasons to consider when comparing manual vs. automated accounts payable software to help you understand the need for accounts payable software:
Manual Invoice Processing: Manual AP entails entering data, validating accuracy, and keeping records. Even when completed correctly, these extra chores take time and are more prone to errors.
Automated Invoice Processing: Eliminates the need for AP staff to handle invoices as they arrive. Hermes - AP Automation directs bills through centralized points of entry, so the system processes them if invoices arrive via email, snail mail, or other means. Automated invoice processing allows team members to devote more time to other vital activities.
Manual Invoice Processing: Manual approval processes can result in many back-and-forth and hold-ups, which becomes problematic in a remote work environment. Extra time is needed to track invoices for approval, frequently resulting in missed deadlines and inaccuracies.
Automated Invoice Processing: Automation automatically routes invoices to the assigned approver for timely processing. So, nothing is ever lost; solutions are frequently customized, with tailored routes, approvers, and notifications based on your needs.
Manual Invoice Processing: Manual processing involves printing, folding, filling, stamping, and mailing paper checks, as well as facilitating electronic payments through your bank account. Manual processing is time-consuming, and reviews may be held for days if an approver works remotely.
Automated Invoice Processing: AP automation allows payment approvers to monitor and schedule payments from anywhere using a single web system. Automation handles the processing of electronic payments and physical checks, allowing you to avoid dealing with banks and hand-signing cheques.
Manual Invoice Processing: With a manual invoice processing system, it is up to AP experts to remember crucial data from invoices or rummage through paper files. Finding an actual invoice may be tricky. If you need to view an older file, it could be in a file cabinet at the workplace, and it takes much time to retrieve it.
Automated Invoice Processing: The best automated invoice processing software like Hermes – AP automation helps to use Invoices, and payment records will always be open online—no matter where you work. All Transaction-level data and other data are available with the click of a mouse without any effort from the personnel involved.
Manual Invoice Processing: Working with outdated, manual processes becomes increasingly challenging as your organization grows. Growing without sacrificing visibility and accuracy can be challenging with older, paper-based systems.
Automated Invoice Processing: End-to-end solutions securely integrate your ERP or accounting system to track every invoice and payment. You'll never have to update files or look for lost data. We also offer custom cloud integrations as well as simple file exports.
You can read our old blog post on “5 Reasons You Should Automate Your AP Process” to know more on how automation can help your business in the long run.
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Automated invoice processing software makes everyone's life easier. AP Automation can automate every workflow. To know more about how we can help you with a personalized automated solution to streamline your business, Schedule A Free Demo with us.