Research shows Accounts Payable Automation cuts costs by up to 80%

News - 11 May 2015

Recent findings from research and advisory firm, Ardent Partners, reports that accounts payable (AP) automation offers cost and time savings of up to 80% when compared to paper or manual-based processes.

Manual processing of invoices can be laborious, paper intensive, and costly as paper invoices must be manually scanned or captured into an ERP or AP system for processing. According to Ardent, the top priority of respondents is to reduce invoice processing costs. AP Automation enables straight-through processing, where minimal human interaction is needed, leading to increased efficiency and cost savings by cutting down on exceptions.

SoftCo AP automates the entire accounts payable process for organizations such as Mediolanum Group, Logitech, and Sunny Delight. Invoices are automatically captured, matched, approved, and easily integrated into ERP and finance systems, reducing invoice processing costs.

“SoftCo’s implementation experience mirrors this research. We have found that automatic invoice matching alone reduces costs and when you add the elimination of paper and time saved by staff, we are seeing our customers achieve up to 90% savings.”

Robert Hickey, Senior Consultant, SoftCo

SoftCo AP is available on-premise or via the cloud, enabling organizations to significantly improve productivity and gain full visibility and instant access to all data and documents in a secure compliant archive.

To learn more about SoftCo AP click here.