What is AP automation?
Accounts Payable (AP) automation refers to technology that is used to streamline and automate accounts payable processes and workflows, removing manual tasks and providing better visibility and control over important financial data.
When it come to automating accounts payable workflows what is the difference between procurement automation, payment automation and AP automation? Many organizations miss out on the full benefits of automation because they pick the wrong technology, or they take the wrong approach to deploying technology. Let’s see if we can shed some light.
Accounts payable has been undergoing a paradigm shift from a back-office afterthought to a core, strategic business function. Benefits of Accounts Payable automation are felt by multiple parties and business systems. Are you ready to unlock the strategic value of accounts payable at your company?
"Companies of all sizes are realizing lower invoice processing costs, mitigating payment risk, and improving supplier relationships through Accounts Payable automation. Your company just can't afford to get left behind in the arena accounts payable automation."
(From "Accounts Payable Automation: You Can't Afford to Get Left Behind")
Let's use the analogy of two particular styles of surfboards to discuss AP automation benefits: the long board and the short board. We can use them to describe invoice and payment processing automation, where there are long term, sustainable benefits and short term positive results.
In this blog, we’ll calculate how the benefits of Accounts Payable automation translate directly to the bottom line, giving real examples from industry research and real Yooz customers. AP automation ROI down to the dollars and sense.
As today's finance leaders focus on strategic priorities, Accounts Payable automation becomes critical for handling routine AP tasks. Finance professionals of the future will embrace these five emerging technologies in accounts payable to scale gracefully and remain competitive.
"As modern finance leaders focus on strategic priorities, workflow automation will become even more critical for handling routine accounts payable (AP) tasks such as invoice processing, approval, payments and vendor audits."
(From "How Today’s Technologies Shape the Modern Finance Office")
A report produced by Levvel Research and sponsored by Yooz suggests that the profession has finally moved on. Accounts Payable leaders are now focused on how to automate accounts payable, rather than “why.” So the questions becomes "What is the best approach to automation for achieving optimum benefits?"
“In the face of extraordinary times and a challenging business climate, AP groups have the opportunity to drive tremendous value and help the greater enterprise navigate these tough times.” In this article we cover several Accounts Payable strategies to map a path back to normalcy.
In this on demand webinar replay titled "The State of ePayables" learn how the benefit of AP automation on an organization's profitability and productivity, not to mention business continuity, has never been more apparent or needed than it is today.
Many times the relationship between an accounts payable department and the vendors they pay can be described as “love/hate.” Automating the invoice and payment process with an advanced solution like Yooz will solve all of the pain caused by a manual processes and allow AP professionals to dramatically improve their vendor relationships and Accounts Payable vendor management.
Historically, AP departments have been the quintessential back office function. But businesses today are expecting more from their AP function. In this interview, conducted by Andrew MacLeod of The Knowledge Group, Mark Brousseau, consultant, IOFM spokesperson, speaks about the future of Accounts Payable departments and AP automation.
You’ve realized that the only way to keep up with the mounting piles of invoices, reboot the morale of your AP department, and save money for your department and your company, is Accounts Payable automation. This article will help you determine if you should choose AP automation in the cloud (a server hosted in the cloud) or on-premise (application is installed and maintained on the company's internal servers).
Nobody knows what the “future of work” will look like and whether working from home (WFH) will be the new normal. In that sense, COVID-19 lockdowns have served as a wake-up call and a catalyst for the adoption of cloud-based Accounts Payable automation.
Can Accounts Payable work from home? With an AP automation solution like Yooz the answer is Yes! To be precise, there are at least five ways in which cloud-based AP automation keeps your back office up and running even when employees can’t be there.
Are you ready to learn more about accounts payable automation or have any question about how to automate your current AP workflow? We'd love to hear from you!
Complete the form below and one of our AP automation specialists will be in touch shortly.