No More Late Payments: How AP Automation Keeps Manufacturers Ahead
2/6/2025 by Andy Birkey
Late payments to vendors and suppliers should never be a cost of doing business for manufacturers, but without streamlined and efficient systems in place, they are bound to happen. AP Automation is a key solution to late payments -- and it can also capture early payment discounts and create more efficiency in the accounts payable and procurement departments.
Manufacturers deal with a complex supply chain, high volumes of invoices, and strict contract terms with suppliers. Manual AP processes introduce risks such as lost or misplaced invoices, slow approvals due to paper-based workflows or inefficient email chains, human errors in data entry, and a lack of visibility into outstanding payables.
The result? Late payment penalties, missed early payment discounts, damaged supplier relationships, and potential disruptions in production due to withheld materials.
MetaViewer’s AP Automation solution integrates seamlessly with ERP systems to optimize invoice processing. Here’s how it directly addresses late payment challenges in manufacturing:
- Faster Invoice Processing and Approvals
MetaViewer automates invoice capture, validation, and routing. By eliminating paper-based workflows, invoices reach approvers instantly, reducing processing time from days to mere hours. With built-in AI and workflow automation, invoices are automatically assigned to the right people, ensuring nothing gets stuck in an inbox. - Real-Time Visibility and Analytics
A lack of visibility often leads to payment delays. MetaViewer provides real-time dashboards and reporting, giving AP teams a clear view of outstanding invoices, payment due dates, and approval bottlenecks. This allows finance teams to take proactive action before deadlines pass. - Reduced Errors and Duplicate Payments
MetaViewer leverages OCR (Optical Character Recognition) and intelligent AI-driven data matching to eliminate errors in invoice entry. It cross-checks invoices against purchase orders and receipts, preventing discrepancies that can lead to disputes and delays. - Smart Payment Scheduling and Early Payment Discounts
With automated invoice tracking, manufacturers can prioritize payments based on due dates and available discounts. MetaViewer ensures payments are scheduled optimally, avoiding late fees and allowing companies to take advantage of early payment discounts for cost savings. - Seamless ERP Integration
MetaViewer integrates with leading ERP systems, such as Microsoft Dynamics, Acumatica and others, ensuring smooth data flow between accounts payable and finance departments. This eliminates redundant data entry, improving efficiency and accuracy.
Are you ready to take control of your AP processes and stop paying unnecessary late fees? Explore how MetaViewer can transform your accounts payable today.