Accounts Payable automation captures, processes and routes invoices automatically. The automation software improves efficiency and allows your AP department to focus on other, more important, tasks and goals by reducing your pay processing time. But this isn’t the only benefit to an AP automation system.
AP Automation Software is Tax Deductible
Section 179 of the IRS tax code allows businesses to deduct the purchase price of certain equipment or software, up to $500,000, that was purchased or financed during the current tax year. This tax deduction is meant to encourage businesses to make larger purchases that will help expand business. The tax deduction also includes any software that is made available to the public.
Automate the Procure-to-Pay Process
AP automation speeds up the invoice processing time and increases in the process’ efficiency. Using this software will result in less errors and misplaced paper documents. This reduces costs throughout the business. Ensured timely payments create good relationships between vendors and businesses.
Invoices are paid on your Schedule
There are no more late payments with AP automation because the system automatically sends on your invoices and maximizes the opportunity for early payment discounts. Reducing the cost in penalties and improving cash flow for your company.
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