Approvals on the Go: How Automation Improves the Accounts Payable Approval Process
Dealing with repetitive, paper-based processes can eat up an entire workday. It can take hours to manually code an invoice, chase down managers for approval and generate a printed check. There’s no time left to assess performance, data or processes to save time and money. To reduce overall costs, finance departments are investing in accounts payable (AP) automation software. AP automation software is a cloud-based solution that streamlines the accounts payable process from invoice to payment distribution electronically.
Key Takeaways:
- AP automation software streamlines invoice, approval and payments based on your business’ current rules and processes.
- Companies that implement AP automation software see improvements in spend visibility, the auditing process and cash flow.
- AvidXchange’s payment automation solution enables companies to pay vendors electronically while maintaining all their banking relationships and their current approval workflows.