Growing Your Business on the Basis of Stronger Accounts Payable Protocols

Enumerate, the leading provider of community association management software and payments solutions, has officially announced the launch of a new fully native and comprehensive accounts payable offering called Automate AP, which is designed to automate invoice ingestion, approval workflows, and payment delivery. According to certain reports, Automate AP brings to the fore an end-to-end community management platform that covers accounting, AR and AP payments, operations management, and resident engagement. Hence, community managers can leverage the given platform to manage their entire business in one location, and therefore, ensure that they have full visibility into their operations. Talk about the whole value proposition on a slightly deeper level, we begin with most evident promise in reduced processing time. With digital invoice ingestion, integrated approval workflows and digital payments, Automate AP reduces processing time by upto 5 days, as compared to the manual alternative. Next up, we must get into how the solution will significantly reduce the risk of fraud. The answer here is likely to involve cutting-edge fraud prevention technologies, as well as a dedicated expert fraud team, that all come together to shore up your defense against ever evolving scams and threats. Another detail worth a mention is rooted in the prospect of eliminating approval bottlenecks. You see, powered by automated and customized workflows, the platform positions the whole picture in such a way that invoices don’t get stuck waiting on internal and board member approvals.

“Community associations spend a lot of time and money processing payments. With Automate AP, we can save our customers up to 75-80% of that cost through automation. This is a huge savings that allows communities to reinvest in areas that benefit residents more directly,” said Jill McFarland, head of product at Enumerate. “By leveraging our Enumerate Central platform for accounts payable, reconciliation also happens faster, which improves vendor relationships.”

Moving on, Enumerate’s latest brainchild also delivers at your disposal the means to save big on costs. To elaborate upon that, we can take into account the solution’s ability in terms of reducing invoice and processing costs, and at the same time, reallocate to higher value activities for residents. Not just the cost, though, users who choose to integrate Automate AP can even expect to cut down on human errors, as the technology’s easy-to-use workflows will automate most of the tasks to eliminate the very need for human intervention. Joining the same would be a chance to improve vendor relationships. This the solution will ensure through a lowdown on vendor payment cycles, thus facilitating accurate and timely payments. Alongside that, Automate AP also pledges to use all-in-one software for reducing the number of platforms employees need to access. This, in turn, should go a long distance to scale up the general user experience. Finally, our last piece of highlight comes from the solution’s possible environmental benefits. By that, we refer to the way Enumerate’s technology will reduce paper invoices and mailings, replacing them instead with electronic ingestion, processing, and distribution of payments.

“Current accounts payable processes are inefficient, inaccurate, and bring significant hidden costs to community associations. Manual checks open communities to risk with 63% of organizations facing fraudulent activity via checks1,” said Vijay Ramnathan, CEO of Enumerate. “Automate AP was purpose-built to solve these challenges for community associations, and we’re excited to bring these cost and time savings to our customers.”