Accounts payable automation may reduce costs, but it is still closing the “financial stable door” after the horse has bolted.
It can be easily argued that all financial management of corporate spending occurs before an order is placed with a vendor & everything thereafter is simply the cost you incur to account for it. So while accounts payable automation reduces that processing cost, when used in isolation, it offers nothing to increase control over spend or reduce the prices you pay on what you buy.
Therefore, if your top priorities are to conserve cash, reduce the costs of what you buy & increase productivity, then you need a solution that goes further.
This may seem random, but please bear with me – why do you personally purchase online from marketplaces like Amazon?
The most common answer is convenience, but press further & reasons include:
- “accessing the widest choice,”
- “very competitive pricing as suppliers fight for our business,”
- “validation of satisfaction of both the item & the supplier to help us make the best choice” & of course, “Amazon’s almost unique ability to deliver most things tomorrow.”
Bottom line in procurement speak: Amazon enables us all to easily achieve & enjoy “Best Value” purchasing on every online purchase that we make.
Amazon Business does the same. What may surprise you is that Amazon Business is – on average – between 15% to 40% cheaper across everything you can buy from them when compared to other suppliers. Please don’t take our word for it; take a handful of random supplier invoices & check the pricing for yourself. The more you buy from Amazon Business, the more you will save delivered through the convenience of online purchasing.
Online Purchasing Will Enable Your Business To Achieve “Best Value” On Everything
We – Compleat – have been working with Amazon Business to enhance your “end-to-end” experience, with a specific focus on finance automation which includes:
- Increasing your visibility & control over all Amazon Business purchases before they are made
- Request to buy generation (requisition) directly from the Amazon Business website
- Automated approval processes before the order being submitted
- Digital submission of formal orders into Amazon Business on approval
- 100% automation to capture all Amazon Business invoices & match them to the relevant purchase order – all without a touch
- To save time & ensure accuracy
- Automating the general ledger coding process
- Automating the invoice approval process
- Posting the approved invoice directly into your existing accounting / ERP software
We enable the fully digital automation of online buying, purchasing & accounts payable for every business across all their suppliers/vendors. This ensures control over all spend before an order is placed, saving our customers money on what they buy whilst increasing productivity for everyone involved both inside & outside the finance department.
Best of all, our applications are priced so that a small increase in your online buying from Amazon Business will deliver the hard cash savings required to cover the cost of automating all of your purchasing within month one of deployment.
So, before you automate your account payable process, check out what Compleat can achieve at an equivalent or lower price than our competitors & make sure you get the Best Value from your investment in automation & benefit from online purchasing.
Do you want to save more on what you already buy, control spend & enable your staff to be more strategic with their purchases? Download our cost optimization report below & find out how much you could save.