Small business owners are always busy finding ways to connect with new customers and complete day-to-day administrative tasks, including invoice processing. Finding time to deal manually with your accounts payable operations can be challenging, especially when business development tasks need immediate attention.
AP automation solutions are becoming increasingly popular to help businesses eliminate manual processes, cut costs, improve cash flow, and optimize operational efficiencies. However, the associated costs have traditionally limited their adoption to enterprises with heavy invoice volumes.
The truth is that SMEs require a different level of accounting systems automation than bigger enterprises. The higher costs associated with an enterprise solution don’t yield an attractive ROI for business leaders with a smaller company. This has made building a case for small business AP automation complicated, leaving smaller companies behind to process invoices manually and hampering growth potential.
Fortunately, Ash Conversions International (ACI) has developed a cost-effective, cloud-based accounts payable solution designed specifically for small businesses: AP Assistant LITE™.
How Can Accounts Payable Automation Help Your Small Business?
Cloud-based AP processing solutions such as AP Assistant LITE™ take care of most of the invoice processing for your financial team, so you can invest more time in growing your business. There’s no extra IT investment involved in AP automation, and solutions are tailored to meet your business’s specific needs.
Accounts payable process automation also helps support remote work, providing the necessary controls to ensure fast, secure access from anywhere in the world that has an internet connection.
AP Assistant LITE™ offers a complete accounts payable solution for small businesses, including these key features:
- One centralized location for all your invoice processing and invoice management needs
- Workflow approval for all AP invoices with easy ad-hoc routing
- A complete audit trail of every step of the invoice approval process
- Complete AP invoice visibility
- Reporting capabilities, including Accrual and Workflow Reports
Seamless interfacing with your current financial systems means no disruption to your day-to-day operations, with an improved invoice approval workflow and faster payment processing on an automation platform that offers your accounts payable team several significant benefits.
What are the Benefits of Automating the Accounts Payable Process for Small Businesses?
With AP Assistant LITE™, small companies can also leverage automation technology to foster progressive, organic growth and allow them to enjoy the same significant benefits as larger enterprises, such as:
Faster invoice processing times
Invoice automation is completely centralized on a cloud platform, allowing you to review invoices, provide payment approvals, and remit electronic payments faster than with manual processing.
Increased Visibility & Control
Lost and improperly accrued invoices are a thing of the past. APA LITE™ provides complete visibility and tracking of all invoices from the moment they are received and also provides better control through a complete audit trail of every step of the workflow process.
Improved real-time remote collaboration
Stakeholders can review, approve, and pay invoices in real-time on a cloud-based platform through secure remote login, regardless of location.
Lower risk of fraud
Automated AP solutions reduce errors and flag possible duplicate invoices, allowing for complete transparency of suspicious activity and preventing payment on a potentially fraudulent invoice.
Increased cash flow
Prompt payments through automation can help your business take advantage of early payment discounts or favorable credit terms while avoiding late payment penalties, increasing your cash flow.
Reduced office supply costs
In addition to reduced invoice processing costs, cloud-based AP processes allow you to cut down on office expenses such as paper, printer, printer ink, and filing cabinets.
Improved vendor relationships and supplier management
Your vendors will appreciate receiving their payments on time, helping to protect your supply chain and reputation.
Eliminate hardcopy document handling
Processing invoices through an automated cloud-based system takes away the need for sorting, filing, and retrieving paper – everything can be accessed online with just a few keystrokes.
Lower physical storage requirements
With online automated AP processing, there’s no need to store paper invoices in filing cabinets, allowing you to optimize floor space more strategically.
Eliminate lost or misplaced invoices
Automated AP systems remove the need to handle paper invoices, eliminating the risk of lost, misplaced, or misfiled documents.
Learn How ACI’s AP Assistant LITE™ Can Help Grow Your Business
Our AP Automation solution for small businesses makes the accounts payable process easier and more cost-effective for business owners, allowing them to focus on tasks directly related to helping them reach their growth objectives.
With ACI’s AP Assistant LITE™ solution, you have the information you need to make strategic decisions about cash control, which helps you optimize working capital and fuel organic business growth.
For over 40 years, Ash Conversions International has been the go-to supplier of tech-based, cost-effective solutions that transform how companies run their business processes. ACI offers customized AP automation solutions that increase efficiency, streamline operations, and save money so you can optimize and improve your AP processes.
Click the button below to contact us today and learn how ACI’s accounts payable automation solutions can help boost efficiencies, eliminate waste, and make your business more profitable.
