Your ultimate guide to AP automation solutions

Everything you need to know before investing in an AP automation solution

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AP Automation solutions – a buyer’s guide

Accounts payable automation is enterprise software that streamlines supplier invoice processing and provides both visibility and control over invoice approval business processes.

The main purpose of AP automation is to get an automated and streamlined process for supplier invoices. AP automation solutions allow financial management professionals to work optimally, while having the needed resources to do more, faster – and with less focus on manual work.

Benefits of AP automation solutions

The economic impact of an AP automation software can be a substantial. The most obvious ones are reduction in time spent on processing invoices within the AP department. But there are many other direct and indirect benefits. Here are some of them:

  • Decrease in time spent by AP department (up to 80%)
  • Shortened turnaround times from days to minutes
  • Up to 97% less errors
  • Cost savings from 40% up to 60%

Research companies have found that manually processed invoices cost, on average, $12 to $30 per invoice, considering salary costs. In a case study by the Aberdeen group, most companies that automated their AP process showed a savings of 40% to 60%.

Accounts Payable Automation – Step by Step

Capture

By using AI and capture automation, data is intuitively extracted from both paper or emailed invoices.

Approve

Digital approval workflow with drag and drop functionality, 1-click approvals and mobile access. Approve your invoices online!

Match

The software matches vendor invoices to internal or external purchase orders and goods receipts. The system matches POs – even with hundreds of lines – within minutes of the invoice entering the system.

What you’ll learn from the Guide

Our guide on AP Automation solutions will give you a deep understanding of the AP process, automation possibilities and what to look for when finding the best solution for your organization.

What is AP Automation?

The guide explains the different parts of the process:

  • Invoice scanning
  • Invoice capture
  • Invoice processing
  • PO matching
  • Approval workflow

Get a good understanding of what to expect of a modern AP Automation solution, in terms of automation, the reduction of processing time, cost reductions and other indirect benefits.

The guide provides you with tools for setting the relevant requirements of invoice processing software. You’ll get ideas on what to ask any future potential AP automation provider.

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