How Much Can You Really Save Using AP Automation?

Saving time and money is a New Year’s resolution we can all commit to. With AvidXchange, you can do both simultaneously. Since manually managing payments can be a laborious process, AvidXchange can help take the burden off you and your team with AvidPay—Rent Manager’s built-in accounts payable (AP) automation solution. AvidPay can help your business improve and control AP efficiency. This automated payment solution reduces paper, time, and costs associated with processing vendor bills and printing checks.

Savings through AP Automation

Last year, AvidPay managed an average of 350 payments per month for customers. According to AvidXchange, this equates to roughly $5,250 in time savings/210 hours per year. Further, there is an additional savings of $1.10 per check (stamps, envelopes, and check stock), which equals $4,620—for a grand total of $9,870 in yearly cost savings.

Additional savings include labor costs for procedural tasks and any late fees that may result from slow payment delivery.

Rent Manager’s Built-in AP Solution

AvidXchange provides AP and payment automation solutions for Rent Manager customers with AvidPay and AvidInvoice. AvidPay streamlines the AP process, enabling your team to eliminate inefficient payment methods and effectively pay bills. You’ll no longer have to worry about paperwork, stamps or dropping off payments at the post office—saving you valuable time and money. Since AvidPay is built directly into the software, you also won’t waste time switching between multiple platforms—the feature is available within a single Rent Manager dashboard. AvidInvoice provides 100% visibility into your AP process with automated approval workflows that allow you to simplify procedures and keep your accounting controls in order.

Start the new year right with new AP automation efficiencies. Learn more about AvidPay and schedule a demo today.