HOW TRUE AUTOMATION AFFECTS DIFFERENT AP/AR ROLES
A true automation platform brings along with it a plethora of benefits not only for the organization as a whole, but to the individual members of your internal AP/AR team. The following outlines some of the increased efficiencies that it provides as well as how those benefits relate to specific positions within the invoice processing team.
In Juno Payments, our purposed-built solution covers the complete procure-to-pay and order-to-cash lifecycle by automating full end-to-end financial operations. We can intelligently move money, data, and information, gone are the days of human errors, fraud, and risk. We automate:
Receipt and verification of invoices
Enter it into your system and sub-ledger
Move it through your own payment processes with your business rules
Optimize your payment schedule by analyzing internal and external economic variables
Pays the invoices electronically, send the necessary rich data to identify the payment
Reconcile and close the ledger
AP Manager Benefits:
The AP Manager experiences the benefits as our platform increases performance and productivity up the intracompany ladder.
Our true automation reduces unproductive workload on AP team
Decline in manual errors including not itemizing and incorrect manual input of data
Customizable workflows and machine learning flexes with your organization’s needs
Fully adaptable to your processes and procedures
System setup does not require IT integration, thus creating a seamless transition
Increased budget transparency, pay for what you use
Controller Benefits:
The controller benefits from removing inefficiencies and streamlining existing processes for their teams.
Full transparency of invoice processing procedures
Decreased time spent approving through automation, but maintains the option for manual intervention
Cost reduction per transaction, pay for what you use, no monthly or implementation fees
Integrated SOX compliance and reduced fraud risks
AP/AR all in one integrated system providing full transparency and control on both ends
CFO Benefits:
The largest benefits to a CFO are cost savings and increased transparency:
Cost savings by reducing processing costs by up to 94%
Improved cash flow management and predictive cash exposure
Integrated treasury approval for payment runs
Increased team efficiency resulting from reduction in manual errors, processing times, and fraud risks
Vendor Benefits:
Integrated platform to market existing products and services
Catalog of products and services auto distributed by connected-commerce experience
No need to maintain multiple catalogs
Process transparency from invoice through payment
Integrated disputing process within platform
Reduced workload for statement exchange and ledger reconciliations between vendor and customer