6 reasons why you should consider automating your accounts payable now

Many organisations still manage accounts payable, manually. With manual processes draining time, creating inefficiencies, and increasing errors, it's time to consider how automation can transform your accounts payable operations.
In this article, I will explain six key reasons why automating accounts payable should be a priority for your organisation.
What is Accounts Payable Automation?
Accounts payable (AP) automation refers to the use of technology to streamline and digitise the entire process of managing and paying supplier invoices. By automating tasks such as data entry, invoice matching, and payment approvals, organisations can reduce manual effort, increase accuracy, and ensure that payments are processed on time. AP automation solutions can also integrate with existing financial systems, providing real-time insights into cash flow and helping businesses manage their finances more efficiently.

According to Ricoh's 2024 research 27% of finance directors say that insufficient investment in automation, which leaves employees bogged down by manual processes and administrative tasks, is the top factor impacting employee productivity.
What are the key benefits of automating your Accounts Payable?
Organisations achieve several proven benefits by automating their accounts payable, these are;
1. Reduces processing time
70% of time is typically spent trying to reconcile invoices and as many as 62% of organisations experience inaccuracies. So a reduction in manual intervention means fewer errors, emails and phone calls. Resulting in a time saving of up to 95%.
2. Dramatically reduces costs
Automating accounts payable isn't just about saving time. It's about unlocking significant cost reductions and operational efficiency that can deliver an ROI within months. The savings costs gained by moving to an automated process can be as much as 80%. Enabling organisations to allocate this expenditure into other areas.
3. Limits fraud and ensures regulatory compliance
Replacing manual intervention with automation significantly reduces the likelihood of fraud while ensuring adherence to data privacy laws and financial regulations. Automated systems provide secure, traceable audit trails, minimising human error and the risk of non-compliance.
4. Scope for scalability
The potential to scale up, or potentially down, is unlimited and comes with a minimal cost implication, plus it avoids the financial implications of hiring, training or layoffs.
5. Enhances real-time data visibility and cash management
Automation provides accurate and timely data by digitising invoices and simultaneously updating records, budgets, and forecasts. This leads to more precise cash management, allowing organisations to know their exact cash position, outstanding obligations, and confidently explore new financial opportunities.
6. Strengthens vendor relationships
Automation improves vendor satisfaction by ensuring timely and accurate payments, reducing delays and disputes, and fostering long-term trust and collaboration.
All of these are major advantages over the time-consuming and clunky manual systems that many companies have traditionally employed.
While the benefits of accounts payable automation are clear, selecting the right partner is key to ensuring these advantages are fully realised.
Key questions to ask when considering process automation solution providers for your accounts payable

There are many software solutions available that promise the efficiencies of a digital accounts payable system. Who are the companies behind these solutions though? It is always worth digging a little deeper to establish the answers to a number of important questions. Consider the following questions:
- Does the solution offered by the provider meet your needs? It’s essential to assess whether the solution genuinely reduces processing time and aligns with your specific requirements. Consider how the solution operates, the ease of use, and whether it integrates seamlessly with your existing systems. Evaluate performance metrics and case studies to ensure the solution delivers on its promises. The support offered during implementation will also help you determine if the supplier can effectively meet your unique business needs over time.
- What is the history and background of the company in question? Locating an experienced and larger accounts payable partner will provide many benefits. Not only will they have the scale and resources required, they will also have knowledge gained across many industries and a depth of experience.
- What experience does the company have in this field? You want a supplier that doesn’t just say it understands your business needs, but has shown that it can understand and meet such needs over many years and for many customers. A proven track record in financial IT should be a key requirement.
- What capabilities does the supplier have in terms of support and training? This will be important both during the initial scoping and implementation stages, and also on an ongoing basis, as you use the accounts payable system. An experienced partner with real scale should have existing solutions in place for support and training. Indeed many have dedicated change management solutions as part of their service offering.
Ready to take control of your Accounts Payable?
Learn more about how Ricoh's AP automation solutions can make it easy to capture, process, and archive invoices. You'll regain control of your cash flow and free up your team's time.

Want to understand better how accounts payable automation works?
Download our eBook on how to automate accounts payable in six steps. Learn how to reduce manual tasks, improve accuracy, and streamline your AP process with automation.


Jason Spry
Process Automation Portfolio Lead
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