Value of AP Automation - A Story of Financial & Human Benefits

It's widely know that accounts payable automation can streamline invoice processing and vendor payments, but the value of AP automation goes beyond financial benefits. Let's look at a hypothetical story to explore the financial and human value of digitizing vendor invoice processing and streamlining payments.


A Story About AP Automation Value

An accounting director for a small business is growing increasingly frustrated with a sluggish paper-based vendor invoice process that’s costing about $9 per invoice. They want to save time and costs, but more importantly, they want to find more joy at work by eliminating a major pain point.

It's time to find a solution to digitize vendor invoice processing and the entire accounts payable process.

1-Jul-15-2022-07-07-10-98-PMFinancial Value

The accounting director implements an AP automation solution with integration to ERP. Their new system includes the following:

  • 1,000 Monthly Invoices
  • Optical Character Recognition (Data Capture)
  • 3 administrator users
  • 20 approvers
  • 2 approvals per invoice

Based on this case, Fidesic's ROI calculator says the company’s average cost per invoice would drop to just $2.28 almost a 75% decrease. The company would also save 275 hours and about $6,600 per month. 


The Human Value

With lost invoices, stalled invoices and frequent errors, the accounting director was often stressed out, particularly at month-end closing time. Finding joy in their job became increasingly out of reach.

  • By eliminating these problems with AP automation, they are able to eliminate a significant pain point in their job. 
  • Now with the ability to work remotely, the team is able to avoid traffic and improve their work-life balance.
  • With time saved, they are able to find more joy in their jobs

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