ap invoice automation Definition
Accounts payable invoice automation is the process of automating the process of creating and sending invoices to suppliers. This can be done through a variety of software programs that will manage the generation and distribution of invoices.
The main goal of accounts payable invoice automation is to improve efficiency and accuracy in the AP process. By automating the creation and sending of invoices, companies can avoid the costly mistakes that can occur with manual processing. In addition, AP automation can help to improve cash flow by reducing the time it takes to get paid for goods and services.
There are a number of benefits that can be gained from implementing AP invoice automation. In addition to improved efficiency and accuracy, AP automation can also help to:
– Improve supplier relations – When invoices are sent out quickly and accurately, suppliers are more likely to be happy with the overall relationship. This can lead to better terms and conditions in future agreements.
– Reduce costs – Automating the AP process can help to reduce administrative costs associated with manually processing invoices.
– Increase visibility into spend – By automating invoice processing, companies can gain greater visibility into their overall spend. This information can be used to make informed decisions about future spending.
