What is the Formula for AP Automation Success?
AvidXchange
APRIL 2, 2014
There is a formula for success — it is an equation that is made up of gathering data, creating a plan, having an advocate and pouring in a little practical advice. Data Gathering The first part of the formula is gathering the data you need in order to “ know your number.” If you are not clear on how to calculate “your number”, or cost per process (cost of processing a payment from invoice receipt through vendor payment), then there are 5 steps that you can follow to determine your number.
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