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Accounts Payable Automation Solutions for Small Business

Accounts Payable Automation Cloud Solutions Benefit Small and Mid-sized Businesses

Running a small business requires excellent management skills and smooth workflow through various departments. Accounts payable automation should be easy, but can pose challenges such as:

  1. High invoice processing costs due to multiple participants and manual steps.
  2. Delays in approval that lead to late payments, missed discounts and poor relations with suppliers. 
  3.  Low visibility into accruals and upcoming payments, leading to difficulty in finance management and planning.

Large enterprises have leveraged the advantages of accounts payable automation through costly on premises software. However, the small business sector could not benefit from such solutions due to the initial investments required in setting up the IT infrastructure and purchasing the software.

When it comes to accounts payable automation, the advent of SaaS applications and “Cloud-based workflow” has enabled small and medium-sized businesses to reap benefits at an affordable cost. Without large upfront investments, you can have an environment perfectly suited to your processes. You can then engage an on-premise or remote team (or combination of both), based on your assessment of the risks and cost advantages.

With SpringCM, StylusAP provides state-of-the art on-demand accounts payable automation solutions that help small businesses automate and efficiently manage their AP-related workflows. As with all SpringCM-based solutions, the accounts payable automation solution is delivered as an on-demand subscription-based service delivered via the internet. 


Benefits

  • Reduce the cost and time of invoice processing by 50% or more
  • Reduce paper storage and retrieval costs by 90%
  • Save 70% on staff costs
  • Reduces risks involved in the accounts payable process
  • Improve processing efficiency and reduce errors
  • Enhance financial control and visibility
  • Reduce discrepancies and exceptions
  • Avoid late payment penalties
  • Increases early pay discounts
  • Increases cash flow through reduced vendor days sales outstanding
  • Allows for scalable business operations

Uses

  • Streamline approval workflow
  • Set rules to handle exceptions and deviations
  • Allows for remote/virtual AP clerk engagement
  • Option of adding off-shored benefits
  • Go paperless on your business processes
  • Removes the burden of paper storage
  • Integrate workflows across multiple locations
  • Storage and retrieval of invoices and other related documents

Features

  • Efficient storage and retrieval for all invoices, PO’s, vendor statements and vendor emails
  • Multi-location invoice capture via scanning, email and fax
  • Routing invoices through a pre-defined workflow based on set rules which govern the process
  • Integrated invoice processing with outsourced/off-shored transactional services
  • Customized reports for higher visibility

Integration

StylusAP offers Web services to easily integrate the accounts payable automation/invoice processing solution with your existing accounting or ERP system. This feature is available with the enterprise version of the solution. Currently we offer integration of the StylusAP solution with the following ERP solutions 1. Netsuite 2. Oracle 3. SAP 4. MS Dynamics 5. Intacct Please feel free to contact us to learn more regarding integration services and pricing.