Would it surprise you to learn that the average person in the United States uses 700 pounds of paper per year? That represents 140 reams of 500-sheet 20-pound bond paper! It would take a forklift to move that.
There are so many great reasons to go paperless. The health of our pine forests and our planet is just one of them. Another is the health of your business, because paper-based accounts payable (AP) is cumbersome, time-consuming, expensive and prone to error. Paperless AP is the exact opposite. It’s streamlined, faster, cost-effective and error-free.
So what’s stopping you from automating your AP process?
If you’re concerned about how to move your AP department from paper-based to paperless, here’s the rundown. Eliminating paper is much easier than you think. It’s as simple as seamlessly integrating an AP automation application into your accounting or ERP system. AvidXchange is the world leader in AP automation software.
Love your accounting system? We do too. We integrate with more than 100 accounting systems, so it's easy for you to get started. AvidXchange will automate your company’s current purchasing, payables and approval processes. Nothing really changes except that the processes are automated and paperless instead of manual and paper-based.
The savings in time, money and productivity are immediate and significant. For example, if your company sends 50 payments per month, getting out of the business of writing checks, it may lead to more than $10,000 in annual savings. Larger organizations can save as much as $24,000 per year for every stack of 100 paper check payments eliminated.
You can actually turn your AP department into a profit center. By optimizing and taking advantage of the early payment discounts that some vendors offer, you’ll see an increase in your bottom line.
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