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Facts About Invoice Automation

Using automated invoice processing can speed up invoice processing time, reduce the risks of manual processes like errors, and decreases your operational costs.

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Facts About Invoice Automation

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  1. Facts About Invoice Automation

  2. According to a research most organizations that implement invoice automation see a return on their investments within half a year.

  3. Most of the costs associated with invoice processing are related to labor. Automated invoicing can reduce your business's labor costs which are associated with invoice processing by up to 60% in a year.

  4. Automated invoice processing will reduce your staffing needs - you will need less/no more accounts payable staff as invoices will be processed faster. The need for temps will be reduced and overtime should not be necessary.

  5. Purchase to pay solutions can reduce the invoice approval time by as much as 30%.

  6. Automated accounts payable processes better equip your business to take advantage of early payment discounts - typically 2% of an invoice if you pay within ten days.

  7. TROVEWORKS Troveworks offers an accounts receivable solution that will help in streamlining your cash flow and also help in building good customer relationships. troveworks.com

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