Finance and accounting teams are juggling significant changes in purchase trends. The advent of remote work accelerated what was already a clear trend toward distributed spend. Without a modern finance technology stack, finance teams find their productivity burdened, their employees frustrated, and their transactions improperly categorized. It’s more important than than ever finance leaders rethink how their systems and processes contribute operational and revenue efficiencies.
If you're spending hours each month on manual reconciliation, chasing receipts, and tracking missing expenses, it's time to rethink your AP process.
Unfortunately, finding a modern AP process tool that can offer visibility, control, and ease of use for employees in today's fast-paced spending environment is challenging. Control comes with burdensome experiences, and lightweight, employee-centric tools lack the internal controls and sophistication for real-time approvals.
Is Your AP Tool Meeting Your Needs? Ask Yourself These 3 Key Questions:
- How much time are manual tasks taking your team?
- Do you have a clear view of your spending?
- Does your AP tool work well with other systems?
"We now have full visibility into every transaction, and reconciling payments at the end of the month has never been easier." —Finance Manager, Retail Brand
Key Signs It’s Time for a Change in Your AP Processing
1. Manual AP process is taking countless hours every month
Finance teams report spending an average of 43 hours on manual invoice entry, receipt tracking, and manual reconciliation.
2. Lack of real-time visibility
You’re surprised by unexpected transactions that impact cash flow and make reconciliation difficult at month-end.
3. Difficulty managing distributed spend
As your company grows, the AP tool struggles to manage spend at scale across different departments or locations.
4. Frequent errors and missing information
Errors in data entry, lost receipts, or unaccounted spending are common issues.
5. Limited automation and integrations
Your current tool doesn’t automate key processes or integrate into other systems with real-time syncing, siloing data.
Consider upgrading to a modernized AP solution
In today’s dynamic and decentralized business landscape, relying on manual AP processes is no longer sustainable. The inefficiencies, errors, and lack of visibility that come with outdated tools can severely impact your team’s productivity and your company’s financial health. If your AP system isn’t keeping pace with the demands of distributed spend, real-time data, and seamless integrations, it’s time to consider a change. By upgrading to a modern, accounting automated AP solution, you can reclaim valuable time, reduce errors, and gain the visibility needed to stay agile in a fast-moving market. The right tools empower your finance team to focus on strategic growth rather than time-consuming manual tasks.