TransCentra’s solution for AP automation improves cash flow visibility and accelerates the order-to-cash cycle for outgoing payments. This solution is designed to streamline back office operations, including front-end capture, workflow processes, and interfacing with various ERP systems. A truly optimized AP process results in quick access to invoices, clear visibility into payment dates to leverage discounts and avoid penalties, and the ability to route invoices to the right individuals for review and approval of payments as required. By optimizing the process, AP groups can reduce the time it takes to process a single invoice by more than fivefold and the cost of processing an invoice by just under fivefold versus the industry average (The Accounts Payable Network on Disbursements Study, 2008). The impact that optimization can make to an organization’s AP department is obvious and dramatic.
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