0 Invoices per year
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If you use AP Automation but still enter data manually
Considerable savings can be produced by automating your Accounts Payable tasks like processing invoices electronically and automating approval processes. Industry estimates for savings range from $3 per invoice to more than $9 per invoice. For the purpose of this cost savings calculator, we are using a conservative estimate of $4.00 in savings per invoice when using an AP Automation solution.
If you use AP Automation and OCR to enter data
Adding Optical Character Recognition (OCR) technology can save data entry time by automatically capturing key information from each invoice and entering the data for you. For the purposes of this cost savings calculator, we are using a conservative estimate of $6.00 in savings per invoice when using OCR combined with an AP Automation solution.
If you use A/P One Cloud-Based Invoice Processing Solution
Using the A/P One solution can totally eliminate the upfront data entry and data verification process. The A/P One solution allows you or your vendors to submit invoices electronically to the processing center where the data is captured, entered into the form and verified by an employee. In addition to the data entry and verification costs savings, this is a cloud-based solution that you access from your web browser. There is no additional software, maintenance or infrastructure costs to support the solution. For the purposes of this cost savings calculator, we are using a conservative estimate of $6.75 in savings per invoice when using the A/P One solution.