Trick-or-Treating for Productivity: How AP Automation Boosts Efficiency
October 31, 2022 by Alyssa Putzer
As the world battles inflation, record rates of employee burnout and turnover, and the desire for more flexibility in work location, it’s crucial that organizations look for ways to increase efficiency and productivity. This ensures that no matter what the economic climate or the location of employees, work is getting done in an efficient and cost-effective way.
Implementing AP automation, like MetaViewer, is one way that companies can achieve greater productivity. Now that’s a Halloween treat!
- Reduces Labor: Automation reduces the amount of labor that’s needed to perform a task by automating either pieces of a process or an entire process or multiple processes. This frees workers up for more value-added tasks and projects while leaving the tedious, repetitive processes to the robots.
- Increases Data Accuracy: Human error is not very sweet. But when data isn’t entered manually, the likelihood that it will be entered accurately is much higher. AP automation, like MetaViewer, removes the need for error-prone manual data entry so your data is more accurate, which makes reporting more accurate while providing executives with greater insight into financials so they can make more strategic business decisions.
- Provides Better Analytics: Data analysis is a key part of increased productivity. By knowing how long a process takes, who is involved in the process, how many touches a process takes, if the company is accruing late payments or receiving early-payment discounts and if invoices are sitting in queue too long, managers and executives can identify which processes need an overhaul with automation and how digital transformation can benefit the company as a whole.
- Elevates Employee Satisfaction: There aren’t very many people who truly enjoy manual data entry. When companies invest in automation software, they also invest in their employees, recognizing their value and allocating their work time to more value-added projects. This increases drive and morale, while also helping to prevent burnout and, therefore, employee turnover because workers feel that their time is being appreciated and their work is worthwhile.
Is automation on the same level as trick-or-treat candy? Probably not. Are they both treats? Absolutely! If you’re thinking about investing in AP automation, we promise that there are no tricks. Learn more!