Accounts payable (AP) automation is a technology solution that eliminates manual data entry and paper-based workflows, streamlining the invoice-to-pay process. This approach uses optical character recognition (OCR), artificial intelligence, and machine learning to capture invoice information, route approvals, and execute payments while maintaining detailed digital records. The results result in lower costs, better cash flow management, and stronger vendor relationships. Companies implementing AP automation experience reduced processing costs, faster payment cycles, fewer accounting errors, and improved financial visibility. The most common tasks to automate include opening mail, sorting invoices, and manually entering data instead of focusing on financial analysis and strategy.
Source
This post was brought to you by Wrk. Our bot looks for news related to automation and post daily.
