FAQ AP Automation

What are the benefits of accounts payable automation?

Digital technologies such as intelligent data capture can transform invoice processing. Accounts payable departments benefit from automation in five ways: (1) significant labor savings, (2) increased staff productivity, (3) faster invoice approval, (4) fewer payment errors and (5) more early payment discount opportunities.

What does an AP automation solution do?

Automating accounts payable delivers significant tactical and strategic benefits by combining seven fundamental capabilities: (1) scan paper invoices, (2) capture electronic invoices, (3) aggregate invoices onto a single platform, (4) extract and validate invoice data, (5) route documents based on pre-established rules, (6) integrate with systems of record and (7) real-time reporting.

What does an automated invoice processing system do?

Automated invoice processing solutions facilitate the approval and posting of invoices using three vital processes: invoice capture, automatic two-way matching and automated approval routing.

What are the benefits of accounts payable processing software?

Accounts payable processing software improves process efficiency and automates repetitive tasks.

What are the benefits of cloud-based accounts payable software?

Cloud technology enables businesses to automate their accounts payable processing without the hefty capital investments, IT involvement, or complicated software or hardware deployments required of traditional on-premise software solutions.

Can an automated accounts payable solution integrate with my ERP platform?

Automated accounts payable solutions can integrate with an organization’s ERP without a laborious synchronization process or complex data extraction algorithms.

Why should I use IPS to automate invoice processing?

Our cloud-based end-to-end solution goes in fast, automates the processing of any paper and electronic invoice, integrates with any ERP platform and is backed by our unmatched expertise in business process automation.

How does a cloud-based accounts payable automation solution work?

Instead of organizations having to make huge upfront investments in hardware, software licenses and annual maintenance contracts, some or all these things are handled by the provider of the cloud-based accounts payable solution.

Why deploy a cloud-based accounts payable automation solution?

Before cloud-based accounts payable automation solutions, organizations had to deploy pricey hardware, software, and infrastructure, pay hefty implementation fees and annual maintenance contracts, and store all their data on their own hard drives and servers.

Are cloud-based accounts payable automation solutions secure?

Cloud-based accounts payable automation solutions meet or exceed the level of security provided by on-premise systems.

What is AP Automation?

Accounts payable (AP) automation digitizes and simplifies the receipt, processing and posting of any paper or electronic invoice from suppliers, no matter where staff work.

Does an AP automation solution replace an ERP or accounting solution?

AP automation solutions are not a replacement for an ERP. AP automation solutions digitize and simplify the invoice processes that feed an ERP.

What is the accounts payable cycle?

The accounts payable cycle is all the steps required to pay a supplier. There are several important activities that occur in each step of the accounts payable cycle.

Why use workflow software in accounts payable?

Approving invoices for payment is an important step in the accounts payable cycle. Workflow software accelerates invoice approvals and exceptions resolution by digitally routing invoices to purchasers and other decision-makers based on pre-configured business rules.

How does accounts payable automation improve cash flow?

There are many benefits of an automated accounts payable (AP) solution. Beyond streamlined invoice processing, one of the most tantalizing benefits of accounts payable automation is improved cash flow. Cloud-based accounts payable solutions provide real-time visibility into cash flow and overall corporate spending.

FAQ - AP Automation