Simplified data entry: Automatically upload supplier and billing data in a consistent digital format, which saves time and reduces the risk of human error associated with manual data transcription.Here are some of the main features that attract businesses to AP automation: These are the features that make AP automation attractive for small companies and startups – they reduce the administrative burden and cost of AP processes so teams can focus on value-driving activities.
#Payable automation software#
The key features of AP automation software help businesses to reduce invoice backlogs, make AP processes more efficient, and free up their teams to focus on strategic initiatives like growth.
Managed payments: Simply select which invoices to pay and your financial services partner will automatically send the correct payment to the appropriate supplier electronically.Here are four ways in which this approach helps companies cut time and cost from their accounts payable processes: Many small and midsize businesses ask their financial services partner to choose the AP automation solution that best fits their needs. To illustrate this last point, consider the reduction in labor costs that comes from cutting 10 hours or more from accounts payable workflows each week. This leads to greater accuracy in AP processes, improved supplier management and relationships, and a quick return on your software investment. In parallel, visibility across your accounts payable processes makes it possible to receive, process, and pay invoices more quickly with minimal human intervention. The primary benefits of AP automation are that it help to optimize your business’ cash flow management, saves time, and enhances the overall security of your invoicing and billing processes.
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