Accounts payable automation will help you process supplier invoices quickly and accurately, reduce exceptions, and provide complete visibility your data
In today’s fast-paced business environment, efficiency and accuracy are paramount. However, it is widespread for Accounts Payable departments to still be using slow and error-prone manual methods of data entry, review, validation and approval. Given how critical invoice processing is for your business health, why not adopt a better, faster, more efficient way of processing invoices with Accounts Payable Automation?
What is Accounts Payable Automation?
Accounts Payable automation involves using technology to streamline and automate the entire AP process — from invoice receipt and matching to payment approval and vendor management. This innovation is transforming the way businesses handle their financial operations and is offering numerous benefits that are hard to ignore.
Key Benefits of Accounts Payable Automation
- Increased Efficiency: With automation, tasks that once took days or weeks can often be completed in minutes. Automated systems can handle invoice capture, data entry, and routing for approvals much faster than human employees can.
- Cost Reduction: Employing AP automation can lead to direct cost savings. Organisations can reduce labour costs associated with manual processing and any mistakes that can happen along the way.
- Enhanced Accuracy: Automated systems reduce the risk of human errors in data entry, invoice matching, and payment processing. By implementing sophisticated algorithms, these technologies can identify discrepancies and flag them for review, enhancing the accuracy of financial records.
- Improved Visibility: Automation provides real-time insights into the accounts payable process. Businesses can easily track the status of invoices, payment approvals, and cash flow, allowing for better financial planning and forecasting.
- Stronger Compliance: Keeping track of regulations and compliance requirements can be challenging. Automated AP solutions help maintain compliance by providing an audit trail for all transactions and ensuring that all vendor payments adhere to relevant guidelines.
- Better Vendor Relationships: By automating AP processes, businesses can ensure timely payments and form stronger relationships with vendors. This reliability can lead to negotiated better terms and pricing arrangements, ultimately benefiting the company’s bottom line.
AAC’s Intelligent AP Automation solutions offer Artificial Intelligence (AI), Machine Learning and Robotic Process Automation (RPA) to automate the receipt, capture, matching and posting of supplier invoices into your chosen financial systems.
Accounts Payable Automation Solutions
AAC’s Intelligent AP Automation solutions will capture invoices from any source, extract the required invoice data from both header and line level before automating the matching, coding and approval processes.
Using state of the art technologies, our solution will perform automated invoice extraction, before matching to purchase order and goods received note data. Workflows then route copies of invoices to individuals who need to code and approve transactions. The last step in the process is to post the processed data into any ERP or Finance system. We have direct integrations with many including Microsoft Dynamics 365, Oracle NetSuite, Oracle Fusion Cloud, and SAP S/4HANA.
Why AAC Systems?
Accounts Payable Automation is not just a trend; it is an essential evolution that organisations must embrace to thrive in a competitive business landscape. With its myriad benefits, including improved efficiency, cost savings, enhanced accuracy, and better vendor relationships, AP automation can transform a company’s financial operations.
Investing in AP automation from AAC Systems will undoubtedly lead to sustainable growth and success. Contact our AP specialists today and make the smarter shift towards a more efficient accounts payable process.
Get in touch
If you would like to find out more about how AAC Systems work and the solutions and services we provide. please get in touch: