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WHITEPAPER1HOW TO SELL APAUTOMATION TO YOURBOSS BY BUILDINGAN AP AUTOMATIONBUSINESS CASEAutomation. Accelerated.www.mhcautomation.com 800.588.3676

WHITEPAPER2HOW TO SELL APAUTOMATION TO YOURBOSS BY BUILDINGAN AP AUTOMATIONBUSINESS CASEAs an accounts payable (AP) professional, you’re likely familiar with andexcited about the possibilities of automation. Maybe you’ve read aboutAP automation solutions or heard about competitors in your industry thathave implemented automation in their business models. No matter howcertain you are of AP automation benefits to your organization, however,implementing this solution is likely not your decision — you need to convinceyour boss.Maybe your boss is uncertain of the benefits of AP automation, or maybe they’re unaware of theexistence of such solutions. Regardless, you can take the initiative to communicate the benefits ofaccounts payable automation to your boss, showing them how automation can improve efficiency,save money, and help your business keep up with the ever-changing landscape of businesstechnology.WHY YOU SHOULD CARE ABOUT AP AUTOMATIONThe accounts payable department plays an essential role in any company, ensuring that all liabilitiesare paid accurately and on time. However, manual accounts payable takes a great deal of time andrelies heavily on fallible human labor. AP automation solutions eliminate these problems by usinga software system to process all accounts payable. AP automation offers the following must-havebenefits:www.mhcautomation.com 800.588.3676

WHITEPAPER3Reduced error:Faster processing:Error-filled, lost, misfiled, and duplicatedocuments cost organizations significantamounts of money, and there are a lot ofthem. Nearly 88% of manual accountspayable documents contain at leastone error. Automation eliminates theseerrors by automating transcription andminimizing the potential for human error.The average invoice is processed inabout 20 days, which is unsurprising dueto the fact that manual AP consists of atleast 15 steps before posting. Automationreduces this time to three days, speedingup your transaction life cycle. This, inturn, can improve your number of on-timepayments, improving your relationshipswith vendors.Improved control:Minimized costs:AP automation enables organizations toaccess information any time, anywhere,improving control and visualization.This increases financial and operationalcontrol while helping to reduceduplication errors.Automation can reduce the cost ofprocessing dramatically. Speedyautomation also increases companies’chances of being eligible for vendordiscounts, which many businesses offerfor early payments.Eliminated fraud:Scalable solutions:Corporate fraud is a growing concern,especially in the AP department. Byspeeding up turnaround and introducingautomated and preventative controls, APautomation software helps reduce thepotential for fraudulent activity.AP automation solutions are oftenscalable, growing and changing with yourorganization, so you don’t need to makedrastic internal changes to staffor processes.Improved productivity:When asked why they chose automation,many surveyed companies citedimproved productivity. In the U.K. alone,36% of non-automated companies statedthat they were concerned about processdelays resulting in late payments.Compare that to automated accountspayable departments, which can processmany more invoices per full-timeemployee as their non-automated peers.In other words, AP automation helps yourbusiness work smarter, not harder. Forthis reason, it’s worth it to make an APautomation business case to your boss.www.mhcautomation.com 800.588.3676

WHITEPAPER4HOW TO PRESENT AN AP AUTOMATION BUSINESS CASEWhile the prospects of AP automation are exciting, you need to prepare before taking it to your boss.A business case will demonstrate your thoughtfulness and attention to detail, as well as your focus onwhat is best for the company. Follow the steps outlined below to build a business case for your boss:1. Collect Your FactsThe first step of the process is to do your research. Your boss will not take you seriously if you showup to a meeting with no hard facts. For this reason, your first move should be to collect as muchinformation as possible about AP automation — specifically, facts that speak to your boss’ priorities.Some basic information to gather should include:Process benefits:Cost savings:Understand how AP automation solutionswork and what benefits they offer togeneral AP processes. You need tounderstand the direct benefits of APautomation, like reduced error andprocessing times, and you should alsodetermine secondary benefits, such asprotection against fraud and employeeburnout.Take a look at industry surveys andcase studies to determine what costsand savings other companies areexperiencing with AP automation.When possible, look into case studiesof businesses that are similar to yourown. Also, be sure to consider softcosts like the time it takes to researchvendor questions, approve bills, or pullinformation for audits.Industry statistics:While knowing specific numbers isexcellent, also be sure to look at widerstatistics in the industry. For each benefitof AP automation, you should havenumerical evidence to back it up. Whenpossible, collect statistics from variousreliable sources across the industry tofind the most accurate figures.Available options:Take a look into various types of APautomation solutions that are availableto your company, as each type offersunique benefits. Summarize and compareeach type for your boss to refer to asthey review your business case.www.mhcautomation.com 800.588.3676

WHITEPAPER52. Emphasize AP Automation’s Substantial ImpactUsing AP automation can be pivotal for any business, but it can be difficult to put into perspective.Your boss will recognize that some industry statistics won’t necessarily apply to your specificbusiness. If you mention a lot of numbers with no concrete statements, you may make your boss evenmore skeptical of the idea. For this reason, you need to tailor your data.Tailoring your business case data primarily involves collecting information about your business andcompleting detailed return-on-investment (ROI) calculations. This introspective approach to yourpresentation will require that you analyze every corner of your company to add up all the costs yourbusiness faces with manual AP.1Some key questions tohelp direct this researchare listed below:3How long does it take toapprove one invoice?6How many errors occureach month and howlong does it take tocatch one?How much does itcurrently cost to processinvoices and payments?4How long does it take toprocess a payment?7How many invoices doesyour organization processper month?2How long does it take toprocess one invoice?5Are there any additionalcosts for processingpayments?These questions onlyscratch the surface of yourcompany’s AP processes,but they serve as a goodstart for digging deeperinto your current costs andprocesses. Once you collectall this information, you canuse those numbers, alongwith industry statistics,to calculate potentialsavings and present acomprehensive ROI analysis.www.mhcautomation.com 800.588.3676

WHITEPAPER6When possible, collect data frommultiple AP automation ROI calculatorsto get as accurate an appraisal aspossible.Another key point to remember is to address your company’s specific pain points. For example, ifyour AP department’s biggest complaint is its auditing process, discuss how AP automation’s digitaldocument management can make it easier. If your AP department has recently seen an uptick inlate payments, focus on how automation cuts processing time from weeks to days. Speaking to thespecific needs of your company will support your argument and demonstrate that you’ve done yourresearch.3. See It From Your Boss’ Point of ViewOnce you’ve done your research and calculations, adjust your mindset to your boss’ point of view.While the information you’ve collected will provide a fantastic background for your argument andwill help prepare you for any questions that may arise, not all of the information will be immediatelypertinent to your business case. To avoid rebuttal, see the argument from your boss’s point of view.To get started in this step of the process, ask yourself what your boss’ priorities and goals are. Whatwould your boss consider to be a major success? What areas are they most concerned about in yourAP processes? Once you have a firm grasp of their viewpoint, you can tailor your pitch to your boss’concerns and organize your presentation based on their priorities.On top of this framing, you should also keep in mind that your presentation will not exist in a vacuum— your boss is going to ask you questions. AP automation represents a substantial investment for yourcompany, so your boss will naturally be curious.While your background research will prepare you for some of the more detailed questions your bossmay ask, there are other business-focused questions to prepare for. Some of these include:Why should your business dothis now?How long will it take to seeresults?When your boss asks this, emphasizethe fact that each day your businessprocesses invoices manually is anotherday spent wasting valuable time andmoney on an inefficient system. Byswitching now, your business can savemore in the long run.ROI-focused executives will be happyto hear that most companies seeimprovements immediately. While ittakes time for systems to becomeperfectly integrated, AP automationsystems instantly start delivering fasterprocessing times after installation.www.mhcautomation.com 800.588.3676

WHITEPAPER7Will this grow with us?Who else is using this solution?Executives are future-thinkingindividuals, so it is important toemphasize that AP automation solutionsare scalable and can actually help yourbusiness grow. With improved costsavings, AP automation can help boostyour company’s profitability then scaleup as your company expands.Many companies are leveragingautomation in their business processes,especially in accounts payable. Beprepared for this question by doingresearch within your industry.Why fix our process if it’salready working?While your manual processing systemmay work, there are likely many issueswith sticking to it. Paper processesare more prone to fraud and error,both of which can cost your businesssubstantially. Additionally, manualprocesses take longer than automatedones, costing your business in labor andpotentially resulting in late payments.While the current system may work,automation can help it work better.One key point to remember in preparingfor these questions is that you shouldn’tsell AP automation as a way to make yourjob easier.While bosses should be interested inways to make their employees’ liveseasier, their first concern is supportingthe business. Always frame your answerswith this in mind.www.mhcautomation.com 800.588.3676