One of the toughest part of the job of media agencies in terms of accounts payable or AP is manual processing. Therefore, if as a media agency, you have still not automated your accounts payable department, then you are most likely to execute social media campaigns for the clients with the help of one plastic credit card. Also, at the time when you are not using your card, then you might be using the physical paper cheques for the payment of the expenses of the vendors. This is where financial technology has a crucial role to play in the automation of the accounts payable department. Moreover, there are a number of solid reasons as to why automation of the accounts payable is preferred by the media agencies.
- First and foremost, you can go with one card per one client or campaign. With the virtual credit cards having the phenomenal capability regarding automation of the accounts payable department, they are extremely popular in the media industry especially with the payments of social media campaigns. You can simply use one card per client or campaign with the inbuilt spending criteria which help you to remain within the budget.
- Automation of accounts payable eliminates the task of manual processing which makes it much easier and convenient at the same time. Moreover, automation helps in the elimination of the human errors, and hence accuracy is significantly increased.
- Another of the greatest advantage of automation of accounts payable is the saving of both time and money. Automation of the process saves a lot of time for the employees which can be utilized in other innovative or higher – level tasks. Also, money is saved in terms of bank fees, paper, and other stationeries.
Therefore, if you are a media agency, you should be wasting no more time and immediately go for the automation of the accounts payable department.