Manually managing vendor invoices can be a daunting and time-consuming task for any business, often placing a heavy burden on finance teams. Many companies, frustrated by the inefficiency and resources consumed by manual processes, are turning to AP automation solutions to streamline their workflows. By automating AP, businesses can save up to 60% or more in processing time, reduce costs, and accelerate approval cycles.
For companies using Dynamics 365 as their primary financial accounting system, there's excellent news: Rillion's powerful AP automation solution integrates seamlessly with your platform and delivers substantial benefits.
Key Reasons to Automate Accounts Payable in Dynamics 365
1. Save Valuable Resources
Manually processing invoices is labor-intensive, especially for businesses dealing with large volumes. According to Sterling Commerce, manually processing a single invoice can cost between $12 and $30. However, companies can reduce those costs by 40% to 60% by automating the process. For example, if it costs $30 to process an invoice manually, automation can bring that cost down to $8 - $12. That results in significant savings over time.
2. Save Time
Beyond cost savings, many organizations have come to value the time-saving benefits of AP automation. Deploying a robust AP automation solution can reduce processing and approval cycle times by half. Expediting processes with automation will allow your finance teams to focus on higher-value tasks rather than being bogged down with manual data entry and approval tracking.
3. Scale Without Adding Staff
As businesses grow and invoice volume increases, automation will eliminate the need to hire additional staff. During periods of high transaction volume, such as seasonal peaks, automated AP processes can manage increased workloads effortlessly, allowing your finance team to maintain efficiency without expanding headcount.
Rillion's AP Automation Software for Dynamics 365: Key Features
Rillion's AP automation software provides comprehensive features designed to simplify the invoice management process for organizations using Dynamics 365.
1. Automated Invoice Data Capture
Both emailed and mailed invoices are processed automatically, relieving finance teams from manually entering invoice data into Dynamics 365. Invoices appear on a central dashboard and are ready for further action, reducing the risk of errors and missed payments.
2. Approval Workflow Automation
Invoices are routed to the appropriate approvers based on your predefined business rules. This eliminates the need for email chains and spreadsheet tracking, reducing the risk of losing invoices or making late payments. The result is a more efficient and transparent approval process.
3. Searchable Invoice Archive
You can quickly find paid and current invoices with a cloud-based searchable invoice archive. Going paperless reduces physical storage needs and streamlines the retrieval of invoices, saving time when researching or responding to inquiries.
4. Automated Three-Way Matching
Rillion's AP automation software offers a sophisticated purchase order (PO) matching engine. It automatically compares the invoice, purchase order, and goods receipt, even for POs with hundreds of line items or multiple pages. Eliminate manual matching, ensure accuracy, and prevent overpayments.
5. Time-Stamped Audit Trail in Dynamics 365
Audits and investigations become easier with a time-stamped log of all invoice activities. Internal and external auditors can easily access audit information, particularly helpful for time-sensitive requests or when key finance staff are unavailable.
Getting Started with AP Automation for Dynamics 365
For companies seeking a user-friendly AP automation solution that streamlines invoice processing, automates approval workflows, and reduces overall AP costs, Rillion offers a highly effective option.
When evaluating AP automation software, here's what to look for:
Seamless Integration with Dynamics 365: Ensure the software integrates effortlessly with your Dynamics 365 environment.
Ease of Use and High User Satisfaction: Choose an intuitive solution with strong user satisfaction ratings.
Modular Design: Select an AP automation system that can grow with your business, offering flexibility as your needs evolve.
Whether you use or , Rillion can help your organization achieve significant cost and time savings while optimizing your AP processes.
For more information on AP automation for Dynamics 365, our experts at Rillion.
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