Accounts payable automation is the use of technology to streamline and automate accounts payable processes, including invoice processing, payments, and vendor management. The goal of accounts payable automation is to reduce costs, improve efficiency, and increase accuracy in accounts payable processes.
Organizations that manage accounts payable manually face a number of challenges, including data entry errors, delayed payments, and difficulty managing large volumes of invoices. By automating accounts payable processes, organizations can reduce the risk of errors, eliminate manual data entry, and speed up invoice processing times.
There are several technologies that can be used to automate accounts payable processes, including optical character recognition (OCR), robotic process automation (RPA), and electronic data interchange (EDI). These technologies work together to streamline the accounts payable process, reducing the need for manual intervention and improving accuracy.