Are you looking for ways to keep your suppliers happy? Automating your accounts payable (AP) process is a great way to do just that. Here are five clever AP automation tactics that will help you streamline your process and keep your suppliers smiling:
1. Go paperless
AP automation can help keep your suppliers happy by paying them faster and reducing accounting errors.
One of the easiest ways to keep your suppliers happy is to go paperless. By automating your AP process and eliminating paper invoices, you can make it much easier for your suppliers to do business with you. Not to mention, going paperless can also help you save money on printing and postage costs.
Paper invoices are a thing of the past. In today’s business world, more and more companies are automating their accounts payable process in order to save time and money. Not to mention, going paperless is a great way to keep your suppliers happy. By automating your AP process and eliminating paper invoices, you can make it much easier for your suppliers to do business with you. In addition, automating your AP process can help you save money on printing and postage costs. So if you’re looking for ways to streamline your AP process and keep your suppliers smiling, going paperless is a great place to start.
2. Provide early payment discounts
AP automation can help you improve your cash flow by reducing the time it takes to process invoices and make payments.
Another great way to keep your suppliers happy is to offer early payment discounts. When you automate your AP process, you can take advantage of early payment discounts and save money on your overall costs.
Many suppliers are happy to offer early payment discounts in exchange for prompt payment of their invoices. By taking advantage of these discounts, you can save money on your own business expenses. In addition, offering early payment discounts can help to build goodwill with your suppliers.
3. Set up e-invoicing & automatic payments
Accounts payable automation can help you keep track of supplier invoices and payments, so you can avoid late payments.
Another great way to keep your suppliers happy is to implement an e-invoicing system. E-invoicing allows suppliers to submit invoices electronically, which can save them a considerable amount of time and effort. In addition, e-invoicing can also help to reduce errors and improve visibility into the invoicing process.
Also, setting up automatic payments is another great way to keep your suppliers happy. By automating your payments, you can ensure that your suppliers always receive their payments on time.
4. Improve communication
Accounts payable automation can help you save time and money on accounting and administrative tasks, so you can focus on running your business.
Don’t forget the importance of communication in maintaining good supplier relationships. Improving communication with your suppliers is another important way to keep them happy.By keeping lines of communication open, you can resolve problems quickly and efficiently if they do arise. Furthermore, regular communication can help to prevent misunderstandings and miscommunications from occurring in the first place.
Another way to improve communication is to make sure that you’re clear about what you need from them. Be specific in your requests and don’t be afraid to ask questions if you’re unsure about something. This way, they’ll know that you value their input and are more likely to be willing to help you out. Do you need clarification? Use the in-app communications channel to improve relationships between your organization and your suppliers.
When you automate your AP process, you can make it easier to stay in touch with your suppliers and keep them updated on the status of their invoices.
5. Offer online access
AP automation for suppliers can help you become more efficient and organized, so you can streamline your accounting processes.
One way to improve supplier relations is by offering online access to your accounts payable system. Offering online access to your AP system is another great way to keep your suppliers happy. By giving suppliers the ability to check the status of their invoices and make payments online, you can make their lives much easier. This will also save you time and money by reducing the need for paper invoices and manual payments.
In addition, online access will allow your suppliers to view their account history and track payments. As a result, they will be better informed about your company’s payment practices and will be more likely to continue doing business with you.
By following these five clever AP automation tactics, you can streamline your process and keep your suppliers happy. So what are you waiting for? Consider AP automation for suppliers. Start automating with EZ Cloud today!
About EZ Cloud:
EZ Cloud provides a modern and secure Accounts Payable (AP) automation platform that brings AP communications, invoice data, and real-time analytics to one easy-to-use portal. Integrating seamlessly with existing processes, EZ Cloud uses the latest technology to offer AP and finance professionals greater visibility, accountability, and control.
For more information, please visit ezcloud.co.