To give yourself a competitive edge in the real estate market AP automation can achieve the following:
- Condense the steps involved in making a payment, increasing the speed of payment and the efficiency of your AP department.
- Reduce time spent on AP processing, cutting checks, and reconciling payments, so that you can allocate staff and resources to projects that grow your business.
- Consolidate and improve existing systems, thereby untangling the complexity of disbursement accounts and leveraging the power of your existing ERP systems.
- Allow you to manage multiple payment types on one platform to bring all relevant payment data together from ACH, virtual card, and check transactions.
- Reach out to and onboard vendors for you, saving you the time and hassle involved in connecting with your vendors.
- Link you to an authenticated vendor network to enhance security and minimize fraud risk.
- Empower AP personnel to work remotely, protecting productivity and business continuity against unforeseen disruptions.
- Stop suspicious payments before they happen, thereby mitigating payment fraud and showing vendors that you are a trustworthy partner.
- Provide real-time visibility into data and transactions so you can streamline processes, optimize cash flow, make sound decisions, and negotiate better payment terms.
- Offer rich remittance data for vendors to support strong, reliable, mutually-beneficial relationships.
- Enable you to take advantage of early payment discounts and avoid late payments, improving your financial position as a business.
With deep domain knowledge, decades of experience in payments, and cloud-based technology that’s easy to deploy, Bottomline’s Paymode-X checks every box. We’re ready to help you build better AP value on a solid automation foundation.