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What is wrong with paper based AP?
There are many problems with paper based AP including:
- High invoice payment costs
- Errors introduced by manual keying
- Poor visibility over working capital liabilities
- Inability to correctly optimise use of working capital
- Slow invoice payment preparation times
- Missed early payment opportunities, or late payment fines
Whilst automated AP does not achieve 100% automated invoice capture and processing; the ROI and enhanced capabilities it delivers will have a significant impact on the performance of AP within medium to large businesses.