Using an ERP/business application is a great way to better organize and control accounts payable (AP) invoice processing. However, it takes more than an ERP to have an AP process free of manual bottlenecks and inefficiencies.
The solution to these problems is well known — AP automation — the challenge is selling it internally.
Selling AP Automation to Key Stakeholders
The key to moving forward with your AP automation project is to address each stakeholder’s challenges and pains and uncover how an AP automation solution will improve their job and help achieve their objectives easier. To get started, it’s important to understand how each stakeholder interacts with AP:
- AP Specialists complete payments and control expenses by receiving, processing, verifying and reconciling invoices.
- AP Managers are responsible for the accuracy and timeliness of monthly closings and financial statements. They are in charge of providing the required information to auditors. They are also in charge of their team’s performance.
- Managers need to approve payment of invoices related to spend in their department. Their inboxes are full of urgent emails, and they struggle to keep on top of the approval requests.
- Controllers need to make sure proper controls are in place to ensure accounting is accurate and their company is compliant with finance and VAT regulations.
- CFOs are constantly looking at ways to reduce costs and control cash. While doing so, they need to ensure the right controls are in place in order to prevent fraud.
- Suppliers daily job is to make sure customers are paying on time. To do this, they must ensure all discrepancies are cleared as quickly as possible.
Once the objectives of key stakeholders are understood, it’s easy to present the benefits of AP automation in a way that makes the most sense to each individual.
Here’s a chart to help you fill in the gaps and satisfy every level of your organization:
Learn More About Building a Business Case for AP Automation
Need more effective advice to develop the business case for AP automation to your company’s key decision makers? Check out our white paper, Building a Business Case for AP Automation: How to Propel Your Project to the Top of the List.