With the digital transformation in full swing, businesses have become aware of the value and necessity of digitalized financial processes and automation. But what are we really talking about when we refer to AP Automation? Which benefits can you get by implementing automated processes within your own business?
AP Automation software for matching and approving invoices is fundamental for automating supplier invoice handling. However, it often does not help you reach the set goals of automation because the invoice data that enters it can be incorrect or incomplete. A robust AP Automation solution also includes automated ways of receiving, validating and importing supplier invoices.
AP Automationis the digitalization and automation of manual tasks in the accounts payable process. Automation minimizes repetitive and tedious manual work to make time available for more revenue-driving tasks. Both manual and semi-manual AP processes can be fully automated, which saves time and increases control. Part of AP Automation is making the switch from paper and PDF invoices to e-invoices, which is a gateway to many of the benefits you’ll see below.
All in all, AP Automation simply makes your working life easier and more efficient. Here are more of the opportunities automation provides:
Now knowing what AP Automation is and which benefits are available to you, the next step before diving in is to have a look at what your individual business needs are. Seriously consider these points as you investigate automated supplier invoicing management options:
A lot of this research can be done internally, but there are also great options for help figuring out the details. That’s where a consultation with a service provider can come in extremely handy.
Many different providers offer AP Automation solutions, but they are not all created equal. Here are some essential questions to ask before selecting a service provider for your business:
For potential future needs, you should also check if the service provider supports the full purchase-to-pay and order-to cash processes, so that they also can offer solutions for AR automation, e-procurement and sales order automation.
If you’re ready to have this conversation, feel free to reach out to Pagero for a free consultation!
The accounts payable process is one often marred by human error because it traditionally involves hour after hour of tedious manual work. Accounts payable software can help streamline invoicing but is often not truly automated or easily integrated with multiple ERP systems. A cloud-based, integrated AP Automation solution is a sure way towards efficient accounting and invoice processing for businesses ready to move into the modern era.
This text was originally published 2 December 2020 and last updated 25 February 2022.