Will Accounts Payable Automation make your 2019 list?
It should! One constant in construction is a plethora of bills and payments. Handling this manually could require several full-time jobs, or an entire department. Modern accounts payable systems use advanced matching and digital payments to automate the AP process.
These systems allow businesses to:
- Lower processing costs
- Decrease late payments
- Capture payment discounts
- Avoid duplicate payments
- Better track the end-to-end process from expense to payment
AP automation solutions take the capture, routing, and approval process for an invoice from 28 days to two or three. Automation eliminates manual and error-prone processes like data entry and frees up time, so staff can focus on more valuable tasks, rather than spending time matching invoices and mailing paper checks. These teams can even help implement and oversee other technology advances you’re pushing your business to adapt.
AvidXchange is an industry leader in automating invoice and payment processes for midmarket businesses. We revolutionize the way construction companies pay their bills, serving more than 5,500 clients throughout North America and 400,000 vendors nationwide. Interested in learning more? Schedule your call with Jim today!
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“AP automation puts us in a position to better manage our growth and any changes that may come our way. AvidXchange makes us more efficient and informed. The benefits alleviate the growing pains that come with change.”Christina Wozniak, CFO, Carrow Real Estate Services Watch The Video