03 May Is automating accounts payable expensive?
There’s a common perception that business efficiency software is expensive to implement, but more than makes up for the initial expense in saved time and resources, plus greater accuracy and reducing the overall rate of occurrence of costly errors. Though the benefits are most certainly true, it isn’t necessarily the case that backoffice software needs to cost a pretty penny to rollout.
Using modern technology, accounts payable can be automated for as little as $5,000 plus a recurring fee of less than $1,000 per month. For this very reasonable investment, organizations have the opportunity to repurpose between 2 and 10 full time employees into other needed functions, allowing the software to handle their previous rote duties.
This is a substantial change from just a few years ago, when companies could easily pay a half million dollars to implement an accounting module in an enterprise resource management tool that had a fraction of the functionality available for a few thousand dollars today.
Learn more about the benefits of automating AP by contacting simplifiAP today.