What is an AP Automation?

AP automation technology streamlines standard processes like receiving invoices, coding, routing for approval, making payments, and performing reconciliation. You might encounter the phrase “touchless” processing, which typically indicates that AP automation removes the necessity for manual data entry at any point, although approvers might still have to click to authorize payments. AP automation software usually offers dashboards and analytical tools that assist you in managing the AP process and identifying issues. Since all accounts payable information is digitized and kept in one system, it’s simpler to search through and review the data.

Why Automate Accounts Payable?

Numerous factors exist to automate accounts payable. Certain ones offer a concrete and swift return on investment. Digitizing AP and minimizing manual efforts can lower your processing expenses through AP automation. It can also assist you in scaling AP more efficiently as your business expands by minimizing the necessity to recruit additional staff.

AP automation offers resources that assist in closely managing payments and cash flow. By streamlining and expediting the payment process, AP automation can enhance your capacity to take advantage of supplier payment discounts.