Accounts payable automation may reduce costs, but it is still just closing the “financial stable door” after the horse has bolted.
It can be easily argued that all financial management of corporate spend takes place prior to an order being placed with a vendor and 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 and 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 and reasons include:
- “accessing the widest choice”,
- “very competitive pricing as suppliers fight for our business”,
- “validation of satisfaction of both the item and the supplier to help us make the best choice” and of course, “Amazon’s almost unique ability to deliver most things tomorrow.”
Bottom line in procurement speak: Amazon enables us all to easily achieve and 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. Don’t take our word for it, just take a handful of random supplier invoices and 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 and control over all Amazon Business purchases before they are made
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- Request to buy generation (requisition) directly from the Amazon Business website
- Automated approval processes prior to the order being place
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- Digital submission of formal orders into Amazon Business on approval
- 100% automation to capture all Amazon Business invoices and match them to the relevant purchase order – all without touch
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- To save time and 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 and 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 and 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 just your account payable process, check out what Compleat can achieve at an equivalent or lower price than our competitors and make sure you get Best Value from your investment in automation and benefit from online purchasing.
Do you want to save more on what you already buy, control spend and enable your staff to be more strategic with their purchases? Download our cost optimisation report below and find out how much you could save.
