Acccounts Payable (AP) Automation
Published in
Aug 2, 2021
Accounts Payable (AP) automation is a set of tools that are used to streamline the AP process, remove manual input, and provide better insight into financial data.
AP automation software improves the accuracy and efficiency of your AP department and helps with a variety of other business activities — many outside of accounting and finance.
The steps involved in an AP Automation process are as follows:
- Gathering information from Supplier Portal
- OCR and Machine Learning
- Invoice Matching
- Two-Way Matching
- Three-Way Matching
- Approval Process
- Payments
- Reconciliation
- Reporting
- Integration with ERP, Accounting Systems
Learn more about AP Automation
