Accounts payable is one of the most essential functions in any organization. The traditional accounts payable process is manual and time-consuming, involving tasks such as receiving invoices, manually inputting data into an accounting system, obtaining approvals from various departments and issuing payments. Many organizations waste time hunting down invoices and using skilled accounting staff on data entry.
Accounts payable automation digitalizes the inbound invoicing process to take away time-consuming manual tasks, minimise errors, gain greater real-time visibility and control over company spending. AP automation simplifies this process by digitizing and automating these tasks, reducing the likelihood of errors and accelerating the processing time.
Essentially, AP automation significantly reduces the time and labor involved in paper-based document exchange, as well as reducing the risk of costly human error.
AP automation can streamline and automate time-consuming manual tasks, such as data entry and invoice processing, enabling AP staff to focus on higher-value tasks.
Be competitive amongst your competitors and your customers by capitalising on data transformation. Access your data in real-time and improve your procurement decisions.
Provide real-time visibility into invoice processing and accounts payable, hence gain holistic insight into your cash flow to make data-driven decisions for your organization.
By implementing AP automation can result in a significant ROI for businesses
AP Automation allows you to automate invoice processing to vendor payments efficiently and accurately — a win-win for both your organization and your vendors.
Our AP automation enables you to digitally capture invoices and perform touchless invoice processing, approval and posting within your accounts department. With real-time invoice information, you can gain greater visibility and control over accounts payable.
ManageTradeX AP solution streamlines the entire accounts payable process in a single end-to-end AP platform to boost efficiency and standardization.
Get in touch with us to learn how to unlock the full potential of your financial supply chain with ManageTradeX.