The Future of Finance: The Rise of AP Automation in Business


Posted October 4, 2024 by ibntech

Miami, Florida, July 2, 2024: A recent PYMNTS study revealed that, Accounts Payable (AP) automation boosts cash flow by 73%, while Accounts Receivable (AR) automation streamlines financial processes by 83%.

 
The study further highlights that automated AP and AR processes contribute to more accurate financial operations. Businesses that have shifted to automation have reported substantial benefits, including enhanced cash flow management, increased savings, and streamlined financial process. This trend reflects a growing recognition of automation's role in driving efficiency and financial health across industries.

AP/AR Automation minimizes human errors by leveraging technology, thereby enhancing operational reliability and vendor relationships. Quick invoicing and prompt receipt of payments from vendors stabilize business relationships, underscoring the strategic advantages of automation in modern finance. It also helps in enhancing the cash flow management by accelerating the payment cycles leading to improved cash flow.

Automation gains attraction across sectors, businesses recognize its critical role in enhancing productivity and sound financial management. Those embracing these technologies are better positioned to capitalize on growth opportunities and navigate competitive landscapes effectively.

Ajay Mehta, CEO of IBN Technologies, commented, "Automation empowers businesses to make strategic decisions these technologies enhance their operational capabilities and gain a competitive edge in today's dynamic market.” IBN Technologies, a leader in AP/AR automation solutions, helps businesses improve cash flow management and streamline financial operations.

The team at IBN Technologies has 25 years of expertise in providing faster invoice and payment processing, which leads to building new vendor relationships. Their customized automation solutions and expertise have consistently driven efficiency and growth, positioning clients for success in an increasingly competitive landscape.

A recent case study in the retail industry highlighted their impact, demonstrating a 25% reduction in invoice processing time. This improvement led to enhanced data quality, streamlined operations, and improved workflow. With such proven results, IBN Technologies continues to set the standard for excellence in AP/AR automation.

About IBN Technologies 

IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.

Contact Details: 
Pradip
[email protected]
+1 – 844 – 644 – 8440 

USA: 
IBN Technologies LLC 
66 West Flagler Street Suite 900 Miami, FL 33130 

India: Global Delivery Centre 
IBN Technologies Limited 
Kohinoor House, 2nd floor, 
691/A/1B, Plot no. 7, 
Bibwewadi Road, Pune-411037 


https://www.ibntech.com/ap-ar-automation/
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By IBN technologies LLC
Phone +18446448440
Business Address 66 West Flagler Street Suite 900 Miami, FL 33130
Country United States
Categories Accounting
Tags apar automation , apar automation services , ap ar process
Last Updated October 4, 2024