A second study by Capgemini Consulting estimates that introducing paperless AP automation for purchase-to-pay results in a total 71 percent cost reduction.
These astounding figures are self-evident and demonstrate an obvious fact:
AP automation has huge potential to increase company profits as a result of an improved source of productivity, savings, and agility within a company. It drives more than £10.47 savings per invoice and reduces invoice processing and approval workflow time by 50 percent.
There are three key areas to explore when preparing to activate an AP automation platform:
Understanding actual workflow and challenges, success measurements, and project planning
Solution performance, infrastructure security, level of automation provided, upgradability, durability, and capacity to assist the supplier are just some of the features to be considered as important decision-making criteria.