Comdata, a Fleetcor company, has unveiled ASAP, an automated, streamlined accounts payable solution that is designed to help businesses eliminate the manual burden of processing invoices, paying bills and reconciling their books. Paired with a service team, ASAP is designed to work with a company’s existing accounting software to make accounts payable centralised, electronic and simple.
The company says that industry research shows that the cost to process and pay a single paper invoice is US$17 (approximately US$12 to process a single invoice and over US$5 on average to process a paper check) and takes 10 business days. The solution is designed to cut that cost by up to 80%, while reducing the time it takes to process and pay invoices to as few as three days. ASAP clients maintain full control of their approval process, who they pay, how much and when.