![]() The beauty of this is you have one platform for all your operational spending. Rather, it’s a comprehensive spend management solution that automates the worst aspects of expense reports, invoicing, and company credit cards. Spendesk isn’t built just for accounts payable. So read through our list and see which of the following ticks the right boxes for your business. Rather, we wanted to present a small range of good, different options, to show you the kinds of tools available and the problems they help solve.ĭepending on your precise needs, one of these tools will likely solve it better than the others. 4 great tools for automating your accounts payable process Which brings us to the next section.įor those new to accounts payable automation, we present a few good options to help you manage the process easier than you’d previously imagined. Of course, you’ll find plenty more benefits the longer you stick with a good AP software. Which means they need a lot less hand-holding than they used to. Other teams can confidently file purchase orders quickly and efficiently, with a system that walks them through step by step. If you choose a well-made, intuitive AP automation tool, these processes become accessible to everyone - not just finance. But digital processes - when they’re cloud-based - can be done from anywhere with an internet connection! Documents have to be placed in the right in-tray, and filed in the right cabinet. Paper processes usually need to be done in the right place. That starts with finance, of course, but also includes other teams that don’t know how accounts payable works, and waste time figuring it out. The logical upshot of saving time by not doing boring, manual work, is that your teams have more time for the work they should be doing. Rather than filling out paper purchase orders then scanning and emailing them around the office, why not go digital right from the start? ![]() Giant storage rooms and paper filing are out. Whereas humans tend to make mistakes the more manual a task is, computer programs repeat them endlessly without fault.ĭigitizes documents by default. What was previously slow and repetitive work - checking purchase order forms and entering data - is now done almost instantly. ![]() Implemented well, accounts payable automation: But it’s still an investment (although one that can often pay for itself), so let’s look at why you should consider automation. In most cases, automation just makes everyone’s life easier. The big benefits of an automated AP process ![]() On top of those broad objectives, AP automation has several clear benefits. And in the case of accounts payable, as Purchase Control explains, “this removes manual tasks while also providing improved visibility and control over important financial data.” The goal for most process automation is to move faster, reduce errors, and help the company scale easily. Some solutions will read invoices and extract information themselves, which means no data entry for anyone on your team. Specifically, AP automation lets you submit and approve purchase orders and invoices digitally, rather than dropping them physically in in-trays. This usually involves a dedicated software, some examples of which we’ll examine shortly. What is accounts payable automation?Īs the name suggests, accounts payable automation refers to tools or processes that eliminate manual aspects of accounts payable, and instead automates them. So in this post, we’re going to talk about automating much of accounts payable, and getting on with the more complex or important work for finance and purchasing departments. Which means long wait times to process invoices, and that can mean unhappy suppliers. From purchase orders, to supplier invoices, to approvals and accounting, there are so many touchpoints that are still done manually. We can add accounts payable to that list, too. Accounting and expenses are both often still stuck using outdated processes and tools, with teams moving slower than they need to. We’ve already looked at how accounting automation can help, and expense automation too. And the concept is pretty simple: you take slow, repetitive processes that normally waste hours or days each month, and let smart software take care of them for you. We go on and on about the benefits of automation.
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