Accounts payable (AP) automation is the application of digital technologies to the process of receiving, managing, and processing paper or electronic invoices, from any source and in any language or format. By implementing AP automation, accounting teams can gain immediate control over their cash flow, regulatory compliance, and cash leakage.
In contrast to manual processing, AP automation can adapt quickly to supply chain changes, learning new vendors and formats in near-real time. It eliminates many of the inefficiencies, errors, and costs of manual invoice handling, replacing it with highly accurate, straight-through processing that requires minimum human intervention.