With AP Automation you can save money, boost efficiency, stop fraud, and improve
cash flow.
It is time to automate Accounts Payable.
Automate Accounts Payable
Studies show that it can cost a business as much as $20 to manually process an invoice. And most invoice payments are still made by paper check at an estimated cost of $5 per check. In addition, fraudsters relentlessly attack businesses: with the AP department being targeted 58% of the time.
AP Automation helps.
- Spend $5 to process an invoice. Highly automated accounts payable departments spend less than one-fourth as much as their peers with little or no automation to process a single invoice ($5 per invoice versus $20 per invoice).
- Earn some cash back on 10% of your spend. Every AP automation solution simplifies the ability to pay vendors by credit card. Driving at least 10% of your supplier spend onto commercial cards is a best practice.
Everything You Always Wanted To Know About AP But Were Afraid To Ask
Get the guide- Process invoices 14 times faster. Highly automated accounts payable departments process 14 times as many invoices per FTE each month as their peers.
- Reduce payments by check to under 50%. AP Automation solutions make it easier to send payments by electronic means (ACH direct deposit and credit card). Businesses can easily shift their payment mix to drive paper check payments to less than 50%.
Everything You Always Wanted To Know About AP But Were Afraid To Ask
Get the guide- Dramatically reduce payment fraud. Payment fraud is devastating. Surveys show that 80% of reported fraud cases involve some Business Email Compromise (BEC), with the accounts payable department being the primary target (58% of all cases). Invoice approval workflows eliminate fraudulent payments. Dual payment control — a standard feature of AP automation solutions — will reduce employee fraud and BEC.
Everything You Always Wanted To Know About AP But Were Afraid To Ask
Get the guide- Manage cash, optimize working capital. AP Automation is not just about lowering costs and improving efficiency – but about planning your payment runs with a view to cash and cash flow. Timing your payments will shore up working capital when you most need it.
- Capture 97% of early pay discounts offered. Eighty percent of the businesses surveyed by IOFM report receiving invoices that offer discounts on the invoice due amount in exchange for prompt payment. AP Automation solutions enable businesses to capture 97% of prompt payment discounts offered.
Everything You Always Wanted To Know About AP But Were Afraid To Ask
Get the guideIt is time
to Automate Accounts Payable
Today, more than 200,000 small and mid-sized businesses use cost-effective solutions to automate the AP process. They benefit from improved working capital, lower processing costs, increased staff efficiency, enhanced controls, and a reduction in incidences of fraud. Read our comprehensive Guide to AP Automation.
Recent Recognition
About Centime
With its Cash management solutions, Centime helps small and mid-sized businesses thrive.
Centime provides comprehensive SaaS solutions that integrate with the customer’s accounting system and features applications that address key aspects of the cash flow life cycle.
With Centime Cash Management, businesses can monitor cash balances, forecast cash flows, automate AP and AR, access a range of cost effective credit and liquidity solutions, and track key indicators of cash flow and business performance.
Centime was awarded 2022 Commercial Banking Fintech of the Year by Aite-Novarica
Copyright © Centime, Inc. 2023. All trademarks, logos and brand names are the property of their respective owners.