Our AP automation system can save your team $5,250–$6,250 annually by automating data capture and processing for up to 600 invoices, freeing up 200 work hours. With our separation of duties feature, routine tasks are shifted to general office staff, reducing reliance on higher-paid accountant labor. This results in additional savings by allowing routine invoice work to be done at a lower cost per hour. Combined, these features lower both time and payroll expenses, helping your team focus on strategic work while optimizing your budget.
Cost Savings:
Average Hourly Wage: Let’s assume the AP processor’s average wage is $25 per hour.
Cost Savings in Time: 160 hours × $25 = $4,000 annually.
OCR-based capture in this calculation further enhances efficiency. AI-powered OCR drastically reduces the initial data entry time by automatically capturing and digitizing invoice details, which could make an even bigger impact on time savings.
With OCR, the initial 20 minutes per invoice can drop significantly since the capture process is streamlined. This could reduce processing time by another 5–10 minutes per invoice compared to manual entry, translating to an additional savings of around 50 hours, or approximately $1,250 annually. This would bring the total annual savings closer to $5,250–$6,250 in time and cost efficiency when OCR is fully utilized.
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