Any kind of business has its own business cycle and as per that cycle, it experiences lows and highs, in terms of process efficiency, sale margins, annual profits, employee motivation etc. The business owner has no control over most of the factors responsible for this deviation but the inherent discrepancies in any business process can be addressed and improved with consistent efforts. Accounts Payable is one such area. In the present business scenario, a business and its promoter/s are under continuous pressure to cut costs to continue as a viable & profitable entity.
Companies are required to file regulatory compliances which are extremely difficult while trying to extract maximum value for money from expenditures and to cut costs as much as possible. High level of business sense, good service level agreements, better monitoring and reduced costs of processing can be achieved by deployment of automated systems based on business requirements.