Automate to save: Ricoh NZ

January 24, 2024January 22, 2024 by Metropol No Comments

Recent increased costs have reduced spending power for many businesses, prompting a need for cost-saving strategies.

Adopting Accounts Payable (AP) best practices is crucial to finding ways to regain financial security. Leading the list of solutions is AP automation.

For example, a recent study showed that automation can reduce invoice processing costs from $6.30 to just $1.45 per invoice, and can double invoice processing capacity.

Carlos Kiri Cook, Senior Hybrid Workplace Specialist ricoh nz

By comparison, manual AP procedures are known for their time-consuming nature and susceptibility to human errors. Total automation streamlines operations to deliver the utmost efficiency and transparency. Fully automating the invoice-to-pay process eliminates late payments, and enhances fraud detection capabilities within the AP team.

Invoice matching and annual reporting can be quickly and effortlessly generated with automation, while real-time data access simplifies payment processes and supplier onboarding, thereby eliminating late payments. Adopting automation significantly minimises the likelihood of errors, and reduces labour costs. Cloud automation offers visibility from any location and device, facilitating remote work, and reducing office space and utility expenses.

Automation successfully eradicates paper-based processes, eliminates associated expenses, and delivers substantial cost reductions.

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