AP Invoice Automation

In any industry, accounts payable is an important function when it comes to running a business effectively. But many businesses still process paper invoices manually, which takes an unnecessary amount of time. AP automation can help agencies process their invoices and payments more effectively, freeing up the accounting team to focus on other tasks. But many businesses have yet to adopt this process, with 33% of accounts payable departments reporting that they use little to no automation. 

Every business inevitably needs to process invoices. Yet, over 90% of invoices are still processed manually despite the numerous benefits of automating the accounts payable (AP) process.

In this article, we’ll explore what accounts payable (AP) automation is and some of its key benefits.

Most businesses work with numerous vendors. In fact, according to BeyondTrust, the average business works with 182 vendors every week. Keeping track of hundreds of vendors can be challenging, particularly if done manually. That’s why companies need to automate their vendor information. Automating new vendor information can enable businesses to streamline their processes and enhance their organizational efficiency.