For many years, the people in Accounts Payable have had to work long hours to make sure everything is paid on time. This often meant either staying late at the office or carrying boxes of paper home with you. With cloud-based Accounts Payable Automation, you can now work from anywhere.
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We still hear people worried about using an electronic process for approving invoices for payment. One of their greatest concerns is keeping paper copies of the invoices. Someone has told them that it is a legal requirement. We have even seen people print invoices that were sent to them electronically just to have a paper record. We have some good news for you. We are going to let you in on a big secret. Electronic records, approvals, and signatures are legal and have been for over 20 years.
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We still hear people worried about using an electronic process for approving invoices for payment. Below are a few of them.
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Seems like a simple question. Why would you want to give your money to your vendors faster? Shouldn’t you hold on to your money as long as possible? Well, it depends. Each situation is unique, but here are a few reasons why:
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When people hear “Accounts Payable Automation” they think jobs will be eliminated. They think that there is no need for an AP team, since everything will be automatic, or they can cut the team AP in half because there is very little else to do. We have not seen this to be true for small to medium sized businesses. There are many factors that contribute to this. We have outlined a few of them below.
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