Accounts payable automation is a technology solution that streamlines the process of managing and paying invoices. It involves digitizing and automating the various steps involved in accounts payable, from receiving and processing invoices to approving and paying them. Accounts payable automation can benefit businesses of all sizes by improving efficiency, reducing errors, and providing better visibility into financial processes.

One of the key features of accounts payable automation is invoice digitization. This involves converting paper invoices into electronic format using optical character recognition (OCR) technology. Once digitized, invoices can be easily processed and tracked, reducing the need for manual data entry and minimizing the Accounts Payable Automation risk of errors.

Another important feature of accounts payable automation is workflow automation. Workflow automation streamlines the approval process for invoices by automatically routing them to the appropriate individuals or departments for review and approval. This eliminates the need for manual routing and reduces the risk of invoices getting lost or delayed.

Accounts payable automation also includes features such as electronic invoicing and electronic payments. Electronic invoicing allows businesses to send and receive invoices electronically, reducing the need for paper invoices and speeding up the invoicing process. Electronic payments allow businesses to pay invoices electronically, reducing the need for paper checks and streamlining the payment process.

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