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Optimize Cash with AP Software

  • Optimize Cash with AP Software

    Optimize Cash with AP Software

    For any organization, Accounts Payable is one of the largest cash consumers. By it’s very nature, AP is taking cash out of your company and sending it to vendors, but you can still save money even while making payments. Take control of your spending and optimize cash management with AP automation software. Quality AP software eliminates guesswork and negotiation so you can accurately predict immediate and future cash requirements and make payments on-time.

    Accounts-Payable-Software-Optimize-Cash-with-AP-Software

    Avoid Late Fees

    One of the great things about AP automation software is that you can use it to automatically process payments on time. The software makes sure all the invoicing information is in order before payment deadlines and sends automated alerts and escalations to those in charge of approving payment and issuing checks.

    NextProcess’ AP Software automates invoice processing to save time and eliminate the risk of invoices getting lost in the paperwork shuffle. Keep invoices moving quickly while reducing the number of people who have to manually approve invoices as they go through different touch points. Our system can automatically GL code invoices to your parameters and route then them for electronic approval.

    Capture Discounts

    While some organizations put off payments until the last minute hoping to keep their cash available, it backfires in the long run. Not only does paying on-time protect you from late payment fees, it also allows you to take advantage of early payment discounts offered by your suppliers.

    In a 2013 AP Automation Study conducted by the Institute of Financial Operations, 42.5% of survey respondents reported that they captured less than 10% of the early payment discounts available to them. Don’t become part of this statistic. Automatic AP software makes it possible to offer suppliers early payments and take advantage of dynamic discounting which can result in annual returns in excess of 30%.

    Check for Accuracy

    NextProcess’ AP Automation Software offers the control you need to quickly catch invoice errors before you pay them. Our system automatically matches PO invoices with the corresponding Purchase Orders so you can check that you were only charged for what you ordered. If there’s a problem, you can send the invoice back to the supplier for corrections in a timely fashion.

    You can also go back and double-check old invoices any time you need. NextProcess’ system automatically sets-up a document database where you can find old and new invoices using simple search tools. This also makes future audits a breeze.