What is AP Automation, and How Does It Work? 🤔

Have you heard about AP Automation but aren’t quite sure what it is or how it can benefit your business? Let’s break it down:

🔍 What is AP Automation?

AP (Accounts Payable) automation is the process of using software to handle invoice processing and payments. It eliminates manual tasks, streamlines workflows, and reduces the chance for errors.

⚙️ How Does It Work?

1️⃣ Invoice Capture: The system automatically extracts data from invoices (paper, PDF, or electronic), reducing the need for manual entry.

2️⃣ Approval Workflow: Invoices are automatically routed for approval, following preset rules, saving time on chasing signatures.

3️⃣ Matching and Validation: The software matches invoices to purchase orders and receipts, flagging any discrepancies.

4️⃣ Payment Processing: Once approved, payments are made electronically, eliminating the need for manual checks or ACH transfers.

5️⃣ Reporting & Analytics: Gain real-time visibility into outstanding payables, cash flow, and vendor performance through advanced reporting tools.

Why It Matters:

AP automation saves time, reduces costs, and minimizes human error, all while giving you better control over your cash flow and vendor relationships.

Ready to free up your finance team and focus on more strategic tasks? AP automation might be the solution you need!

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