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Automated Accounts Payable Process

oboloo Glossary

Automated Accounts Payable Process

The official business definition of Automated Accounts Payable Process (AAPP) is a method of managing accounts payable that utilizes technology to automate the entirety of the accounts payable process. This includes the analysis and recording of financial transactions, the processing of payments, and the reconciliation of accounts. AAPP is designed to streamline and simplify the accounting process, allowing businesses to reduce costs, increase efficiency and accuracy, and improve the overall customer experience. AAPP can be used to process manual invoices, electronic invoices, and other types of payments. The automated system can be configured to support multiple vendors, multiple currencies, and multiple payment methods. The automation of AAPP helps businesses to automate the accounting process, which enables them to reduce costs, reduce manual labor, and improve accuracy. Additionally, AAPP provides businesses with improved security and visibility into the accounts payable process, allowing them to monitor

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