You know that manually processing your Accounts Payable documents is time-consuming, manpower-intensive, and costly. It also has a heavy environmental impact: the average American office worker uses about 10,000 pages of paper each year, according to the EPA and a large portion of paper usage occurs in the Accounts Payable department. Fortunately, your company can choose to “go green” while also improving productivity and reducing costs with Accounts Payable automation.
For every business improvement listed below, you will also reduce your company’s carbon footprint – a win-win for you and the environment!
Control the Length of Your AP Cycle
Accounts Payable automation can significantly shorten payment cycle times, allowing precise control over the entire AP cycle. Among the many benefits of faster invoice processing, your business can easily submit electronic invoices, take advantage of early payment discounts and avoid late payment charges.
Reduce Manpower Costs
Manual processing of invoices requires significant manpower –a major drain of both time and resources. Today’s automated accounts payable systems can match data, compare purchase orders and queue up invoices for payment automatically, giving your business two key benefits – either freeing up your staff to focus on core tasks that drive profitability or reducing your company’s manpower needs. Automated AP also eliminates misfiling and lost documents, further reducing the hidden costs of manual AP processing.
Reduce Office Supply Costs
Office supply costs related to accounts payable – including toner, paper, storage boxes and file folders – can add up fast. While many companies still receive paper invoices in the mail, others are forced to print invoices that arrive via fax or email – generating tons of paper documents each year at a significant cost. Accounts payable automation improves your bottom line while sparing the environment by eliminating the need to print and store your documents.
Eliminate Transportation Costs
Beyond the cost of paper and office supplies, all of that paperwork your company generates has to be moved around somehow – which translates into transportation costs. A major environmental cost is transporting your accounts payable documents – whether it’s simply between departments or into off-site storage. Your company is using additional trucks, forklifts, and people to move it all. AP automation eliminates all of that carbon output by electronically storing your information in one central area and allowing your entire staff access.
Automating accounts payable is a great way to go green and help both the planet and your bottom line. It’s faster, more accurate, allows better control of the AP cycle, and frees up staff to focus on core company tasks. Best of all, it reduces your company’s environmental footprint while keeping costs low.
What steps has your business taken to ‘go green?’