You’re at the heart of keeping supplier relationships on track, and when those relationships run smoothly, so does the rest of your business.
Reliable suppliers mean consistent product and service quality and fewer headaches for you. However, managing those relationships manually, especially during busy seasons, can be time-consuming and prone to error.
But juggling all that manually? That’s a full-time job in itself. It’s no wonder 37% of businesses say accounts payable (AP) automation is the key to improving supplier relationships. Beyond saving time and streamlining your AP tasks, a suitable supplier management system significantly strengthens supplier management.
Here are five ways it can help.
Invoice Management
Managing invoices is one of the biggest challenges you and your suppliers face daily. Sound familiar? You're not alone. 65% of companies say vendors regularly send invoices to the wrong address.
Then there are the hard copies that get lost in the shuffle or the barely legible scanned invoices. This creates delays, frustration, and more back-and-forth than necessary. That’s where AP automation comes in.
With an advanced AP automation system, your suppliers can send invoices directly to your automation software as an email. No more digging through inboxes or tracking down paper copies. Every invoice from every supplier is stored in one place, fully digital and fully traceable. You’ll know exactly where each invoice is, who approved it, and when.
Plus, say goodbye to bulky filing cabinets and stacks of folders because automation helps you reclaim your space and your time.
Increased Data Accuracy
When an invoice lands in your AP automation software, the real work begins.
With smart invoicing software, that tedious, time-consuming data entry becomes a thing of the past. Whether it's a messy scan, a PDF, or even a handwritten note, AI-powered automation can read it, extract the details, and get it where it needs to go in seconds.
That means no more squinting at supplier invoices or triple-checking for typos. You’ll speed through approvals, avoid costly errors, and prevent duplicate invoices before they cause payment headaches.
And it’s not just theory, WhiteWater lived it. Before using Lightyear, their AP team was knee-deep in paperwork, often taking weeks to process just one batch of invoices.
Now? They're flying through them, cutting review time by 90%. Less stress, more accuracy, and suppliers paid on time, every time. That’s the power of automation in action.
Faster Payment Cycles For Early Payment Discounts
Faster Payment Cycles For Early Payment Discounts
When you’re paying promptly, you’re not just building stronger supplier relationships, you’re also putting your business in a better position to unlock early payment discounts and secure priority access to stock when needed.
With AP automation, your entire payment cycle speeds up, invoices are instantly routed to the right approvers, cutting out the delays caused by endless email threads or waiting for someone to sign off a paper copy.
Automated reminders give nudges when things are sitting too long, so nothing gets stuck in limbo.
The result? Approvals move quickly, payments go out on time, your suppliers stay happy and opens up the early payment discount discussion.
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Servicing businesses is what we do best. We have over a decade of experience working with businesses just like yours. We've helped finance teams reduce their invoice processing by up to 97% and get invoices approved 5 times faster
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Tracking of Supplier Price Change
Tracking of Supplier Price Change
AP automation helps you go beyond faster approvals with the insights to make smarter decisions.
With automated reporting tools, you can compare current invoice prices against historical data, purchase orders, and contract terms in just a few clicks.
No more digging through spreadsheets or chasing down paperwork.
You can spot pricing trends over time like seasonal spikes or recurring, unexplained increases, and use that information to your advantage.
Whether it’s negotiating better contract terms or knowing when it’s time to consider alternative suppliers, AP automation gives you the data to take control and drive real value from your supplier relationships.
Improved Supplier Communication
Improved Supplier Communication
A major part of supplier management comes down to clear, consistent communication.
When vendors don’t get timely updates or responses, errors and disputes can quickly escalate, leading to late payments and frustration on both sides. In fact, 21% of companies are now investing in AP automation just to avoid spending hours on the phone chasing suppliers.
With a strong AP automation platform, you can communicate directly with suppliers within the system itself. Disputed invoices are easy to track, and every interaction is logged automatically, giving you a full audit trail.
Everything is centralised and transparent, helping you resolve issues faster, build stronger vendor relationships, and finally get everyone on the same page.
Final Thoughts
Final Thoughts
We’ll leave you with one thought: when you nurture strong supplier relationships, you’re not just keeping the wheels turning, you’re ensuring consistent quality, reducing risk, and creating a smoother, more reliable flow of goods and services.
AP automation gives you the tools to build those relationships sustainably by streamlining how you manage invoices, track pricing trends, and communicate with suppliers. Imagine cutting approval times from weeks to days, all while gaining the insights to negotiate better deals and keep costs under control.
That’s the kind of transformation that benefits you, your suppliers, and the entire business.
Other resources
EBOOK
Download our 5 Steps to Automating Your AP Function eBook for quick and actionable tips on a smooth implementation.
LIVE WEBINARS
Join our live webinar to see how Lightyear works to enhance AP processes across your business
Join our live webinar to see how Lightyear works to enhance AP processes across your business
