Invoice-to-pay automation can create cost savings by reducing the use of check payments and staff time spent on manual processing tasks. Streamlining the invoice review process can help you take advantage of early payment discounts that might otherwise be missed. Paying via virtual card also creates working capital benefits and enhances protection against invoice and payment fraud loss.
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Increase the value of your AP program.
Rebate revenue is just one benefit of AP automation. AP Optimizer is a single system that streamlines the entire invoice management and payment disbursement process for your accounts payable operations. Enhance efficiency, reduce fraud risk and improve control with our modular invoice-to-pay solution.
Discover the financial value of AP automation.
AP automation can reduce costs in several ways. The full cost of a manual check transaction, including all invoice and payment processing activities, is an estimated $38 compared to ACH at $16 and virtual card at $13.1 Automating the invoice-to-pay process can help move a substantial portion of your check payments to lower-cost ACH and virtual card disbursements. U.S. Bank can conduct an AP file analysis to project additional savings from invoice automation and fraud risk reduction.
Seventy-one percent of organizations reported being the target of payment fraud in 2021, and 66% of those attacks focused on check payments.2 In addition to the direct cost of financial losses, valuable staff hours are lost when redirected to fraud-related issues. The most cost-effective approach to fraud is to prevent it. A best-in-class AP automation solution protects against fraud at every major phase in the invoice-to-pay process.
Invoice-to-pay automation insights
Leverage AP automation to improve efficiency and optimize revenue.
Benefits flow throughout the organization when AP departments automate processes. Learn about the financial opportunities created by invoice-to-pay automation.
Streamline business and consumer payments.
Organizations that pay businesses and consumers need an AP automation solution designed for the task. Learn about key capabilities and why they’re important.
Take the next step.
Our team is here to help you optimize your accounts payable operations. Schedule an AP Optimizer demonstration to get a detailed view of what our tool can do for you.
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