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It makes sense that you would never want to spend twice as long doing anything if you didn’t need to, but when it comes to paying your bills, it may not be crystal clear why you would want to be in a hurry to part with your cash. Why then are so many organizations looking to reduce their processing time? Not surprisingly, it’s about money – and not just soft costs but hard tangible spendable cash. I spoke with a nonprofit recently that has been able to reclaim a half million dollars annually in vendor discounts alone. That’s serious money and worth taking a closer look at what it takes to reduce the payment cycle. Here are 5 steps to slash your AP processing time in half.
Ascend Software offers a comprehensive financial automation suite designed to drastically reduce AP efforts. Contact us today and discover how our SmartTouch solutions can help your organization reduce costs and create efficiencies through AP automation!