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AP automation: Busting five common myths

12th Sep 2018
Brought to you by
SAP

SAP® Concur® is the world’s leading brand for travel, expense and invoice management solutions.

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Have you found this content useful? Use the button above to save it to your profile.

We analyse the most common misconceptions around AP automation.

Perhaps you have a “good enough” supplier invoice process. Invoice data is captured on spreadsheets and inputted into your ERP (eventually). But could the process be more streamlined? If you haven’t still switched to AP automation because you fear it will be more tedious than the process you have in place today, that doesn’t have to be the case.

Here are some of the most common misconceptions that hold the finance team back from truly building a high-performing AP function:

  1. I can’t afford to automate: AP automation can be more cost-effective than you think. Heavy upfront costs and lengthy contracts mean you’re tied into a big software bill – exactly the costs you’re trying to drive down.
  2. The cloud is for big companies: You can do with pre-installed spreadsheets and similar programs on your computer, right? You might think that is the case, but in fact, setting up a scalable solution could set you up for success in the long-term as you grow.
  3. Email is the same as automation: Sending and receiving invoices via email doesn’t mean the process is automated. It may be digital, but true automation makes data capture and approval processes simple.
  4. Automation can’t fix my challenges: Whether your challenge is the time spent capturing invoice line items, or weeding out duplicate invoices, or chasing approvers for sign off – from end to end, automation solves a range of challenges.
  5. Automating invoices doesn’t help our employees: True automation doesn’t just help the finance team – it helps employees too by making the process simple and painless. A handy mobile app lets employees approve invoices on the go so suppliers are paid promptly.  

Take a look at our free short guide to these five common AP myths and how to fully automate your systems so there are no more lost invoices, delayed or incorrect approvals, or missing information.

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