Automate your company and maximize the productivity of your Oracle ERP system! Intellichief, the leader in Enterprise Content Management (ECM) solutions, discusses how achieving full business process automation in Oracle can help your business prepare for the future and come out on top during this unprecedented time.
To get your company on board with an AP automation project, you need to first show a clear ROI. Unfortunately, determining Oracle automation ROI can be a challenge for the uninitiated, but once you have a clear picture of the cost savings of automation, justifying your project is as easy as snapping your fingers. When using Oracle Accounts Payable software for large businesses, savings in the 80-90 percent range are common – and most companies achieve a full return on their investment within the first year.
The ROI of Oracle Invoice Automation
When most businesses that run on Oracle decide to automate, they typically start with invoice processing. This is one of the most commonly burdened departments within the enterprise making it a great candidate for automation. It’s a cost a center, oftentimes inefficient, overly reliant on paper, and unable to take advantage of substantial cost-saving opportunities (i.e., early payment discounts, eliminating late fees, etc.).
From a strictly financial perspective, the justification is clear:
- Invoice processing costs are reduced from $14-$17 per invoices processed manually to only $3 for those supported by automation.
- The time investment is reduced from an average of two weeks to a mere three days.
With Oracle accounts payable software for large businesses, your organization will experience lower costs, fewer late fees, and more early payment discounts. Working smarter, not harder, becomes the norm as opposed to the exception, giving you a distinct competitive advantage in all areas of your business.
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Increased Control, Time, and Productivity: The Other Side of Oracle Automation ROI
When most large businesses look to automate their processes, they are most interested in the lucrative cost savings that can be achieved. Admittedly, this is the most common driver for automation projects. If your solution fails to yield a positive ROI, then what the point?
While this is undeniably true, hard dollar savings are only part of the overall Oracle automation ROI that can be achieved. Soft dollar savings that don’t always register in your books can still play an integral role in your company’s digital transformation.
The ROI of Control
One of the best ways to reduce lead time in Oracle is by automating your AP workflows. By doing so, you can fortify control of your processes. Standardized processes help slice the margin for error significantly, and contrary to popular belief, automation doesn’t necessarily remove Accounts Payable employees from the process. Rather, it eliminates steps that slow down your processes and stifle productivity.
The ROI of Time
With AP automation, you can squeeze more value out of every minute of the day. Your AP department transforms from a cost center to a profit center by eliminating all instances of inefficiency, finetuning existing processes, and establishing uninterrupted invoice processing. With all this extra time on your team’s hands, they can focus on nuanced or complicated tasks that are too unpredictable for automation. Instead, they can focus on negotiating potential discounts, optimizing payment schedules, analyzing opportunities, and proactively working with vendors to improve results. As soon as the IntelliChief implementation phase is complete, your AP department is empowered to generate more revenue for your company.
The ROI of a More Capable and Productive Staff
As your company grows, so will the volume of invoices you are responsible for processing. Keeping up can be an expensive challenge. How do you know exactly how many employees you need to scale effectively without undermining your bottom line? This is never an issue with IntelliChief. Regardless of how fast your business grows, you will be able to keep up without hiring additional employees. Contractors and outsourcing are eliminated from the conversation as well. The team you have now will become more productive and gain the ability to guide your long-term growth.
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IntelliChief Oracle Accounts Payable Software for Large Business
Deciding whether or not to embrace automation is a decision that will require time and due diligence. First, you must evaluate your existing processes to see if they can be mapped to your chosen solution. IntelliChief offers best-in-class configuration capabilities allowing it to integrate seamlessly with virtually any ERP system on the market, including those from top providers like Oracle.
IntelliChief’s solutions preserve your processes while making them faster and more efficient. You don’t need to worry about sweeping changes to business processes that have served you well for years. Our Solutions Engineers have helped hundreds of companies become more streamlined, and we always work off your company’s existing blueprint.
Needless to say, the toughest part is the initial decision. After that, it’s smooth sailing. Implementation is easy, and once your initial ROI projection is achieved, you’re likely to see more excitement throughout the rest of your company. Soon, they’ll be following your lead and asking what else they can automate. As it turns, you can automate many departments across the enterprise.
Looking for Ways to Reduce Lead Time in Oracle?
In a competitive business climate, the companies with the most cash flow and the most efficient business processes tend to come out on top. The Oracle ERP and Oracle Applications that help your business stay connected can be enhanced to help you reduce lead time, minimize errors, maximize savings, and cultivate a more cohesive working environment across the enterprise. Whether you’re on just beginning to explore your automation options or have narrowed down your search to a handful of prospects, our automation experts are standing by to assist you however they can.
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