| As organizations look to strengthen controls, drive out | | | | 90% reduction of costs according to the Aberdeen |
| costs, and increase efficiencies, manual and | | | | Group, resulting in stronger internal controls, and the |
| time-consuming processes are an ideal place to start. | | | | overall streamlining of the AP invoice review and |
| The distributed nature of accounts payable processes | | | | approval process. In addition, the improved visibility and |
| often requires approval on several levels, and | | | | instant access to documents eliminates the chance of |
| generates huge volumes of documentation that are | | | | misplacing or losing paper, duplicating or overpaying |
| difficult to effectively manage. Not only does this | | | | invoices, or making late payments. |
| increase the amount of time needed to process each | | | | Another important benefit of a comprehensive invoice |
| invoice, but it also sets the stage for costs to spiral out | | | | automation solution is that it allows authorized users to |
| of control. After all, the average cost to manually | | | | securely collaborate in real time. Since the documents |
| process an invoice is $21 according to a recent study | | | | are stored in a centralized online repository, internal |
| by the Aberdeen Group. | | | | personnel, vendors and other 3rd parties can be given |
| Productivity is another critical factor throughout the AP | | | | instant access as well, reducing copying, shipping, and |
| process. The Aberdeen Group found that the average | | | | faxing costs. The improved electronic audit trails can |
| time to process a single paper invoice is 20 days. For | | | | also be extremely valuable, especially during audit |
| companies that process thousands of invoices per | | | | reviews. |
| month, internal resources can quickly become strained. | | | | Why Choose ASPEN 360 Accounts Payable Edition |
| Because of this environment of escalating costs and | | | | Although there are several purchase-to-pay |
| decreased productivity, these organizations are turning | | | | automation and AP automation options available, |
| to Accounts Payable automation solutions that | | | | ASPEN 360 Accounts Payable Edition is the unique |
| virtualize the back office. | | | | solution that enables you to virtualize the back office |
| Benefits of Accounts Payable Automation | | | | without the need to install and manage additional |
| There are numerous benefits associated with the use | | | | infrastructure. Companies such as Avon Products, |
| of AP automation solutions in terms of helping AP | | | | Home Depot Supply and Forbes have been able to |
| departments increase efficiencies. A complete solution | | | | streamline their AP processes, increase productivity, |
| that incorporates workflow automation offers up to a | | | | and significantly cut costs utilizing ASPEN 360. |