How to Find the Best AP Automation Software

A large part of doing business today means keeping a wide range of documentation for various business processes. Not only that, but also ensuring the information is properly archived and stored, kept secure and accessible. Whether you have a room or a warehouse full of documents that need to be digitized and stored more securely, you worry that should anything happen to them, your business would suffer. This is especially true in accounts payable.  And that is why more AP departments are deploying AP automation software.

No matter what sparks the realization, you have made the choice to automate. You’ve realized that no one company can be outstanding at every aspect of doing business. Further, you know that partnering with specialists allows you to get back to focusing on what you do best.

4 attributes of best-in-class AP automation solutions

Finding the right accounts payable automation software can be a daunting task. This is especially true if you’ve already gone through the vetting process once. Then you find yourself having to face it a second time. Why? Because the company you chose doesn’t offer what you really want (need) when it comes to AP and invoice processing.

So how do you know who offers the best AP automation solution?

There are four key points you should be taking a hard look at before settling on an AP automation system.

• Security. Your invoices contain a wealth of information that needs to be kept secure, for your own sake and that of your customers. Make sure you know exactly how your AP automation software will keep your information secure, not just today, but over time as well.
• Longevity. You have put your blood, sweat and tears into your business. So, you don’t want to trust your invoices and financial data with just any fly-by-night startup. Make sure you are choosing an AP automation solution that will value them as much as you do.
• Technology. What platforms and technologies does the accounts payable system use? Make sure the AP solution you choose will integrate with your legacy ERP, whether it is from SAP, Oracle, NetSuite or another vendor — seamlessly.  Also make sure the AP automation solution will support remote working.
• Service. What level of service are you expecting from your AP automation solution provider? Ensure your expectations for service are met by a company with a proven focus on customer satisfaction. Choose an AP automation company that is consistently responsive and flexible to meet your needs.

A cautionary tale of automation gone wrong

“In 2008, we decided to get away from storing and shredding our hard documents and go with an image processing solution instead,” said Art Benson, Controller, Paris Gourmet. “We chose the cheapest vendor and did not choose Edenred Pay, although they were very price competitive. Everything was good with this other vendor for a while. Then we started having service issues with uploading and timing delays and were given the song-and-dance until we were told they no longer wanted our business.

We went back to Edenred Pay with our tail between our legs and were welcomed with open arms; Edenred Pay never said, ‘I told you so’. We were still uploading our scanned documents to our bank’s repository when in January of this year we received a letter informing us that the bank would be discontinuing their document management service. What did we do? We called Edenred Pay, who again told us not to worry and immediately started working on helping us transition to their document management service and we plan on continuing with Edenred Pay for years to come.”

The benefits of choosing the right AP automation solution

Finding the best AP automation solution, one you can trust with the heart of your business, is among the most important decisions you can make. At Edenred Pay, we are here to answer all of your questions about accounts payable automation. We want to help you find the right AP software. A solution that ensures your invoices are processed efficiently, accurately and securely, even when your AP staff works from home.

No matter what stage of the accounts payable automation journey you find yourself — from looking to go digital for the first time, to replacing an outdated AP automation system — we can get you started on the right path toward better invoice processing.

If you want to automate your accounts payable and invoice processing, let’s chat!

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Edenred Pay, an Edenred Company, is the global leader in invoice-to-pay automation. Our integrated platform connects businesses with suppliers, ERPs, banks, FinTechs, and payment rails to automate, optimize, and monetize the entire B2B payments lifecycle – from invoice receipt through payment reconciliation. Edenred Pay’s efficient, integrated solutions create a frictionless process and help deliver value to the enterprise by enhancing visibility and monetizing AP.

Visit www.edenredpay.com or contact us to learn more.