Automating Accounts Payable to Increase Staff Retention

January 18, 2023

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Steven Salisbury

accounts payable

The workforce is changing, and employees are changing with it. Recently, many professionals have expressed frustration with “getting the good ones to stay.” Automating your accounts payable (AP) process is a little-known step you can take to keep your key players on board.

The AP process is one of the more tedious recurring tasks for accounting and property management staff alike. Thankfully, there are software and automation tools that can add benefits across the whole AP cycle and improve the day-to-day lives of your staff.

Looking to keep your staff engaged, on board, and reduce the number of tasks on their plate? Check out the ways automating your accounts payable process can help you retain them.

Provide Opportunities for Your Team

Automation ensures your team can focus their time on high-priority tasks that are stimulating and rewarding—two words not often used to describe invoice entry or cutting checks! With today’s non-stop pace, the time saved via automation can be highly valuable.

Staff members want to feel included and have a clear path to growth within a company. Automating routine tasks frees up time for them to contribute to larger projects and the team in ways that can lead to further opportunities in your operation. Plus, because these employees become more involved in strategic, value-driven initiatives, they are more likely to feel valued and stay with your organization.

Grow Your Business Efficiently

It is often the case that, when your business grows, so too does your team. However, embracing automation can be a path to maintaining headcount while increasing revenue.

Let’s be clear: adding automation isn’t always about replacing people. The best companies use automation to enable efficient, consistent output across their departments. This allows them to grow their business without having to increase the team size at the same rate. Additionally, providing your staff the resources they need to be effective at their jobs is paramount to retaining employees, as they feel more supported in their roles.

Withstand Staff Turnover

Isolated disruptions, such as a resignation or illness, can have a significant impact on the rest of your staff. In the worst-case scenarios, those disruptions can have a cascading effect that leads to further turnover.

Because automation lends itself to simplified, structured processes, it allows other team members or new hires to easily step in and help. The rest of your team is left unaffected by disruptions when knowledge gaps and lag time on important projects are limited.

Conclusions

In all, automating your accounts payable process can be an effective way to retain employees, simplify your operations, and enable your team members to contribute to your company in more meaningful ways.

A happy staff makes for a growing and cost-effective company! Consider automation to improve company workflows and reap the benefits of having a team that enjoys what they do and stays with your company for the long term.

About CondoWorks

This article was contributed by CondoWorks, an accounts payable automation platform designed for property management companies (condo/HOA/residential/commercial). CondoWorks allows invoices to be received, approved, posted, and paid in a rapid and paperless manner that is seamlessly integrated with Rent Manager.

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