Think These 5 AP Opportunities are Myths? Think Again
The truth is out there: There are Unidentified Finance Opportunities you may be neglecting. In other words, you may not be having close encounters of any kind with streamlined payments.
Vladidating…er, validating…your vendor bank account information can really suck. It shouldn’t be so draining, but the validation process can feel as windy and forbidding as the road to Dracula’s castle.
A vendor who is amenable to being paid just the way you like to pay them can feel as rare as a one-horned shiny horse with a rainbow mane.
Sometimes, what looks to your seasoned eyes to be a lone trouble spot in your AP processes is just part of a larger, more complex issue.
Imagine Santa without his elves, John Q. Keebler without his pointy-eared bakers, and your vendor enrollment efforts without some outside help. The whole enterprise falls apart without their helpers.
Believe This: You’re A Skeptic, But The AP Opportunities Are Real
You scoff at the idea of Bigfoot and you’ve never met a magician you didn’t want to expose. Your skeptical nature may carry you far in this world—and prevent you from spotting ghosts near the office water cooler at dusk--but it’s also caused you to miss out on opportunities to automate, secure and streamline your AP processes.
Optical Illusion or Opportunity? You’re Still Figuring It Out
You have taken important steps toward discovering opportunities that some of your peers don’t believe exist. But you’re still wondering if maybe some of those opportunities are a bit of a mirage, and if those lights in the sky are more airplane than alien.
When It Comes to AP Opportunities, You’re A Real Cryptzoologist
You can take heart in knowing that when it comes to automating your AP function, you’re a tenacious sort who leaves no stone unturned (and no seemingly mythical creature undiscovered). You’ve clearly taken advantage of the opportunities we outline here.
You’ve solved the mysteries of AP. You’ve shined the light into the dark corners of your offices to find every opportunity to pay suppliers by cards and earn rebates. You convinced your CEO that payment automation is not something carried out by gnomes running to and fro from your bank account to your vendor’s. You’ve even proven that those scary noises from the back cubicle weren’t a banshee, but Sheila spilling her coffee all over her keyboard. Again.
So nice work! There’s nothing left for you to improve upon or solve. Right?
THINK AGAIN. Join us on a quiz quest as we meet some of the supposedly mythical creatures of AP and the opportunities they represent.
THE GOOD NEWS?
It’s never too late to shake the bushes for more opportunities and learn just how real they are. Watch our video to uncover a world of AP opportunities you thought were too good to be true.
SO YOU NEED SOME MORE CONVINCING.
Check out how our clients at Taubman utilized Paymode-X and invoice automation solutions to realize a legendary host of benefits across their AP function.
NOW FOR THE NEXT GREAT FRONTIER:
Taking all that hard work to prove that these opportunities are not myths and securing your payment processes against threats that are all too real: Fraudsters. Read our guide to understand why the threat of payment fraud is so ever-present, even for savvy businesses like yours.
Typically, card payments are appropriate for about 10% of AP spend
67% of businesses say "smarter" systems that drive more efficiencies are necessary for AP success
Organizations are only paying 24% of their suppliers by virtual card