Accounts Payable (AP) is a core business function within accounting departments but also is key to running a successful business. At its simplest AP processes incoming invoices – but matching invoices to existing purchase orders, marrying them to the correct suppliers and ensuring that values are correct are all parts of what can be a very complex process.
Incoming invoices to your organisation need to reach the appropriate staff for review, approval or coding as quickly as possible. However, many businesses find that their accounts payable processing, especially if it is still paper-based, is not as efficient as it could be.
No matter how invoices arrive to your organisation, whether as paper or email attachments, an AP automation solution captures, organises and delivers those invoices, using comprehensive workflow and routing options, to the right people – fast.
An AP automation solution can extract key information directly from an invoice to automatically check details against a supplier database, purchase order or internal ERP system. All of these capabilities mean less manual handling of invoices – reducing errors, the amount of time taken, and the cost of invoice processing.
The accounts payable processes provide a great potential for increasing the efficiency of the whole organisation. The information and documents created by and surround financial processes are used in countless other processes and departments, so the financial processes have an important and multiplier impact throughout the organisation.
Accounts payable (AP) invoice processing can be a time consuming, heavily manual job within many businesses - but by automating that process businesses can see significant benefits.
Accounts payable automation can save your business significant time and money over manual processes. Use our calculator to see how much your business could save. Enter your numbers below and press "Calculate“.