Ap Automation System Definition
An accounts payable automation system is a software solution that streamlines and automates an organization’s accounts payable process. The system enables the capture of invoices and data from various sources, such as email, paper, or PDFs, and makes it available in a central repository. The system then uses intelligent workflows to route invoices for approval, matching, coding, and GL posting. Once invoices are approved, the system can generate payment files for disbursement via ACH or check.
The benefits of implementing an AP automation system are numerous, including improved efficiency and accuracy in processing invoices, increased visibility into the AP process, reduced costs associated with manual processing, and accelerated payment cycles.
