Automation is a huge part of why ePayables are attractive to businesses of all kinds. The more your can automate your processes, the more efficient they become and the more money you save in the long run. For anyone who deals with supply chain management, even tiny savings in both cash and time add up to very significant amounts. Anything that has to be done manually can and will get delayed. Inventory management is labor intensive if it’s not at least partially automated. And labor is by far more expensive than an automated system.
This is what makes ePayables attractive, but the solutions don’t always live up to expectations. What we’re seeing now, however, is an additional benefit of automation that is really making ePayables worthwhile. Data driven decision making is more and more valued. That means that if your business can use the data related to supply chain and logistics for your company, using ePayables and an automated system will give you valuable data at the same time as it increases efficiency.