Automated Bill Pay: Why You Should Do This—Now!

As we continue to receive very positive responses to our newest automated solution TEMNET Bill Pay, there are still many businesses who have trouble understanding that automated bill pay is the future of accounts payable (AP) departments in most businesses.

Just like in the 80s when ADP automated Payroll and folks said, “Oh-NO!”.  It happened. It happened because organizations started to see how others were taking steps to reduce their payroll processing costs by up to 70% through automation.

Today it’s the same story for AP.  Automation is saving companies utilizing e-payables up to 60% according to industry sources. As a TEM provider, Network Control is already intricately tied into your monthly AP process. This is the final piece of the puzzle for you to simplify your telecom expense AP process with an automated bill pay service. By automating your AP process you will immediately save time and money, and also enable your AP department to pursue higher-level tasks that will save the company even more money.

Many ask “Why should we do it now?”  Our response is simple: Each day you delay, you are losing money. Each day you spend committed to the manual, paper-based process, you are wasting money. What we also hear a lot is “If it ain’t broke, why fix it?”  After all, the AP process has been handled in the same basic, manual fashion forever and it is fine. The paper process is familiar, and some might fear that by eliminating it they are giving up an element of control.  But this couldn’t be further from the truth. The fact is, we’re not reinventing the wheel here — we’re just making it streamlined. The process remains the same, but through AP automation you will save considerable amounts of time and money when compared with the inefficient, outdated manual process you’re doing now.

For those of you that are more curious about how you can start saving money and time from automating your bill pay process schedule a call with one of our payment specialists that can help you start mapping your process and figure out how much you spend today doing AP manually.  We will help you crunch the numbers in the following ways:

1. Invoice receipt to bill payment
2. Calculating number of people associated with each task
3. Identifying total time spent on each task
4. Calculate the total cost with each task.
5. Calculate you cost per invoice

At the end of the day, we want every CFO to benefit from understanding precisely how it will affect the bottom line. Automation means you will immediately save time, eliminate paper and have far greater control and insight into your AP department line. Other benefits:

• Improved cash on hand: Having funds that are immediately available to a business, as opposed to assets that must be liquidated to generate funds is a big benefit because it determines what projects or growth a company is able to undertake without going into debt or procuring additional financing.
• Scale: By freeing up manual work through automation staff is able to be assigned to work more freely on other projects that can help generate monies for the companies bottom line.