Over 80%* of SMBs are yet to achieve a fully automated accounts payable process, whilst almost half of small businesses still use a handwritten record to track, manage and analyse spend (AMI-Partners 2018, SAP 2017). For a first step toward automation, use our free online template to quickly create or update your invoice policy. Our free invoice policy template includes:
Many accounts payable teams are weighed down by outdated and admin-heavy processes that take time and energy away from other tasks would bring value to the business. What about your business? Are you set up to succeed? Take this AP risk assessment test to find out.
On average, Australian SMB finance/AP teams process 172 vendor invoices in a typical month. Majority of businesses agreed that automation improved their decision making capability thanks to better visibility into their cashflow and company spend data. After automating supplier invoice management processes, Australian SMBs saved 79 hrs weekly and $50K annually on average (AMI report 2019).
Watch how to save time and money by automating your accounts payable processes in the cloud. Real time and accurate view of your spend will help you manage your cash flow better and make data driven business decisions.
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