Using your actuals to discern if AP automation makes fiscal sense for your company allows you to know for sure if it’s worth the pursuit. Will it also add value to your ERP system investment?
Now there’s a convenient way to find out. IntelliChief ECM’s AP Automation Actuals Calculator factors all cost savings related to moving from manual to automated processing in your environment, utilizing verification and validation from your ERP’s tables.
The calculator includes all aspects of AP processing, comparing your cost projections from years 1-5 of automation implementation. You’re able to see how AP Automation efficiencies affect your organization and provide guidance for process automation optimization when mapping your workflow, in-tandem with ECM system integration with your ERP.
Costs calculated include:
- AP Statistics and Measurements – In-depth analysis of invoice sources and formats, quantities, data capture methods, resource/storage/labor cost (internal and outsourced), late payment fees paid and early pay discounts available
- Hard Dollar Costs – Determining manual processing actuals
- Staff Time – Often the hidden expenses associated with AP processing – time and cost of employee/contract staff in processing tasks, encompassing invoice printing, ERP/business system keying, approval routing, exception handling, data conversions, resolving duplicate payments, researching internal and vendor inquiries, audit preparation, tracking and reporting on all activities.
Purchasing and Receiving’s related costs also are factored, including these department’s labor cost of transactional documentation workflow routes.
Once these figures are entered, the Calculator progresses to both hard dollar savings/gains and efficiency savings for each year 1-5, per line item allocation. It provides a comparison of your current costs to what they would be in an automated environment.
With these calculations completed, you’ll know what impact AP Automation will have for you. If the outlook’s favorable, the data accumulated will be foundational for your business case.
For your free Calculator, contact IntelliChief.