Payable Automation is the official business definition for the process of automating the accounts payable (AP) process within an organization. This process includes the automation of invoice processing, payment initiation, supplier onboarding and reconciliation. All of these aspects are geared towards streamlining and optimizing the AP process, which is vital for businesses of all sizes. By automating these activities, businesses can save time and resources, allowing them to focus on other areas of their operations.
The automation of AP processes can also help improve the accuracy of payments, reduce the risk of payment errors, and improve the overall financial health of the business. Automation can also help reduce the amount of time spent manually processing invoices, as it can identify duplicate invoices and detect any discrepancies between invoices and payments. Automation also helps to reduce the amount of time and energy that goes into reconciling