Accounts Payable (AP) automation is the process of automating certain aspects of the AP workflow. Businesses will often utilize AP automation software for core functions, such as scanning bills and invoices, approval, payments, and reconciliation.
Benefits of Accounts Payable Automation
Many companies are automating all or part of their accounts payable functions. There are a number of time- and cost-saving benefits in doing so:
- Reduce the need for manual data entry, approvals, and check writing
- Integrate seamlessly with existing accounting systems
- Reduce stress on accounting team by automating time-consuming processes
- Improve internal and external customer experience