Growing pains: the importance of a scalable AP automation solution
In today's digital age, consumers enjoy the convenience of moving money between accounts with just a few taps on their smartphones. This sort of seamless user experience is becoming an expectation — not least for finance functions. So, why should choosing an accounts payable (AP) automation solution for your business be any different? You want one that makes transactions and scaling as easy as transferring funds on a consumer banking app.
Let’s apply the savvy consumer mindset to choosing AP automation solutions — just how well do they help your business keep money moving? And how effective are they at streamlining your business' finances for the long term?
This article unpacks how well many of the most common platforms modernize AP workflows. But here's the crucial point: you want an AP system that grows with you, not one that adds extra effort, creates bottlenecks, or has hidden fees. Suddenly, the basic options offered by recognized AP players don’t look quite so easy, straightforward, or forward-thinking.
The hidden costs of scaling AP
Put simply, aim for a keeper from the start to avoid the hassle and hidden costs of replacing AP systems later on. There are tempting entry-level options marketed to small and midsize businesses. And to be fair, they do the job of offering a set of features geared towards growing businesses. But delve into the details and there are limiting factors.
Future business needs should be guiding you toward your company's AP ‘forever match’ — or at least helping you get the solution that you won't regret being stuck with as you grow!
Let’s pick up the pay-per-user point. While it’s easy to increase the number of users on some entry-level systems, the philosophy is consistent: the more you grow, the more you pay. In other words, adding new approvers to your workflow is likely to increase your subscription. Quadient AP by Beanworks, on the other hand, doesn't bind you in a pay-per-user model. So, you can add as many approvers as you like, and the price stays the same.
Plus, support is available when you need it. After all, who wants to pay extra for that, or realize you can't even get in touch quickly and conveniently to solve an urgent issue? With Quadient AP, support is part of the package. So, no costly surprises when you discover the immediate help you need only comes at an additional cost.
Automation is the real deal
Automation can take any AP function from good to great. More than a business buzzword, automation offers real-world opportunities to streamline AP processes, eliminate manual workarounds, and improve productivity across the board. Many entry-level AP solutions offer automation features, but when it comes to automation that scales with your business, Quadient AP sets the benchmark.
Think of Quadient AP like choosing a business software package that isn't just the bare essentials, but a fully-integrated solution. For example, Quadient AP's automated analytics can flag unusual payment sizes or destinations, providing an added layer of security. And if integrating with your company’s enterprise resource planning (ERP) system is an issue, that’s another area where Quadient AP has the edge.
Entry-level AP solutions make you toggle between screens to view different entities and AP workflows. But switching screens for different tasks is unproductive and creates the conditions for manual error in AP processes. Quadient AP simplifies this with one screen for managing multiple entities, even if they're on different ERP systems.
A super-intuitive user interface also sets Quadient AP apart. Both TrustRadius and G2 highlight that the solution is ‘simple to use’, and thousands of users report that Quadient AP requires zero training. So, you can increase your productivity from day one by increasing the efficiency and automation of your AP workflows.
Approval headaches and multi-entity mastery
Basic approval workflows are sufficient when you're a startup. But what happens when you morph into a multi-entity business? For example, a retailer with both physical and digital points of sale. That's when things can get messy in the AP world, and a simple approval workflow just won't cut it anymore. Basic AP solutions restrict you to limited approval steps and users — even if your business expands and becomes more complex.
Imagine a network of physical stores along with a booming e-commerce site. You're likely to have different people and divisions overseeing each entity. Quadient AP has you covered, with unlimited options for creating approval workflows which can speed up traditionally slow payment processes. Quadient AP is designed to manage complex, multi-entity businesses, so it helps keep your money moving — all from a single screen.
Stop juggling, start setting the pace
Remember, as the world moves toward fast and convenient money movement, there’s even more reason to choose your AP system wisely. No-one has time for an inefficient AP system, and who wants to keep adding to or replacing their software investment?
The entry-level AP solutions may offer competent feature sets, but they don't scale as easily — which could lead to growing pains, unforeseen costs, and potential human error. Quadient AP isn’t just another system to juggle or a quick fix. It's designed to automate today's needs and anticipate tomorrow's challenges. Just as consumers wouldn't stick with a bank that makes transferring money cumbersome and costly, no business should settle for an AP system that isn’t designed to adapt and grow with them.
