ACCOUNTS PAYABLE PAPERLESS WORKFLOW: Optimizing Operational Performance with Accounts Payable Automation Software

Managing accounts payable operations can be an arduous process, particularly when utilizing physical paper-based workflow. Implementing a software solution to handle accounts payable automation offers an enterprise a powerful tool to efficiently manage and streamline processes, allowing for significant savings in time and money.

For the finance executive looking for a cost-effective, compliant and scalable system to govern their accounts payable operations, automation is the answer. Software packages are available to facilitate the entire payables management lifecycle from order-to-pay and invoice-to-settlement. Automation offers built-in validation limits, enforcements and thresholds for providing real-time verification and control of spend activity. These capabilities can be customized to each enterprise’s unique operating environment and preferences.

Paperless accounts payable management through automation software will provide your business enterprise with improved speed and control of the purchase-to-pay process. Automating the invoice inbound process allows the accounts payable personnel to speedily validate and approve invoices. The automation solutions permit automatic coding of invoices, further streamlining the purchase-to-pay process. Payment processing is handled through integration with multiple payment methods such as ACH, ERP or Intercompany systems.

Effective accounts payable software solutions offer monitoring and insights through intuitive dashboards and reporting. This enable finance executives to track employee spending, and keep vigilant watch over invoice and payment activity for accuracy and compliance. In addition, spend analysis, reporting and activity tracking add a clarity and control to the accounts payable operations, amplifying security and accuracy.

Overall, automation offers an improved performance in managing accounts payable operations, providing enhanced visibility and flexibility throughout the purchase-to-pay process. Automation software provides numerous controls to enforce security such as single sign-on and multi-factor authentication, allowing for the payment process to remain structured and secure. An intuitive interface reduces errors, decreases cost, improves visibility and increases operational performance.