In the analysis that every AP department does at the time of considering the automation of its processes, there appear two fundamental values, which make up the essence of change.
Benefits of automation in the Accounts Payable area
ROI (Return on investment)
On the one hand, we have ROI, or Return on Investment. It's as simple as crunching the numbers and evaluating the economic benefit that the change will bring in relation to the necessary investment. In the case of automation, the number is always positive and greater than 1 (sometimes much greater than 1!).
Time
On the other hand, there is the value of having new time available. Automation will always free up time. Time to improve many things and to devote to thinking about strategy. The Accounts Payable department can evolve and become the main source of value for a company if it is capable of doing more than just entering data and posting invoices manually. It can become the agent of analysis and observation of the business, providing a new and useful perspective to the purchasing and procurement department.
So, when an Accounts Payable professional needs to present solid arguments for the company to take the step of automating the AP area, they only need to present these two variables and the consequences they have, in short, for the profitability of the business.
