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De-Stress with Accounts Payable Automation

By iPayables | February 24, 2022

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The accounts payable department of a company is essential, and yet often under-appreciated. Without the payables department, the business would never pay off suppliers and would therefore come to a halt. The payables department keeps the company running smooth—but it’s no simple task. Accounts payable employees are responsible for organizing invoices, verifying invoice info, inputting information, collecting approvals, and distributing payments to suppliers—to name a few. These tasks require strict attention to detail and precision, demanding mass amounts of AP employees’ time and energy. But what if there was a way to make their job less taxing? Fortunately, AP employees have the opportunity to de-stress with accounts payable automation.

Payables Automation

AP employees are able to de-stress with accounts payable automation due to how much the solution eases processes within the department. With AP automation, information from an invoice is automatically uploaded into the system. If the system’s confidence is low, AP staff will be notified, and they are able to make a simple review to correct the issue—instead of having to input the entire invoice from top-to-bottom. This makes life easier for AP employees, while still ensuring accuracy in their work. On top of that, automation helps speed up the process.

Payments

Thanks to accounts payable automation, payments to suppliers are easier than ever before. Instead of having to write out tens of dozens of paper checks to various suppliers, AP employees can now input payment methods electronically. This reduces errors and is a much simpler process. Electronic payments also help with reviewing history of payments, simplifying both audits and fraud prevention.

Automated Approval Processes

Instead of employees having to scramble for days—or even weeks—on end between managers to receive approval, AP automation routes the approval process for you. This means all the same parties are still involved with approving invoices, they just can send and receive them automatically. The automated approval routing keeps processes and information legitimate, and keeps the invoice from skipping the proper higher-up before distribution.

Supplier Relationships

Some of the most important relationships a company must maintain are with their suppliers. When suppliers are paid and happy, procedures can go without a hiccup. AP employees are tasked with making sure these relationships succeed. Normally, AP employees have to spend a grueling amount of time fielding supplier inquiries; however, thanks to supplier portal features that many enterprise-level automation services offer, suppliers are now able to navigate invoices easier, without having to burden AP employees. Another important feature of AP automation is dynamic discounting, which allows the AP department to send their invoice payments to suppliers early. With these early pay features, discounts through suppliers are easier to take advantage of. This means not only do you avoid dreaded late fees, but you also save the company money while keeping healthy relationships with suppliers.

De-Stress

Accounts payable automation is a great way to assist with processes in the AP department. With assistance from AP automation, employees are able to complete their job with less stress and in a more timely and productive manner. Automation also helps assure and maintain accuracy. With an automated solution, you’ll be able to

  • Save the company money,
  • Stand out to your employer,
  • Ensure accuracy,
  • Keep operations smooth,
  • Be more productive,
  • Worry less about late invoices and fees; and simply,
  • De-stress with accounts payable automation.
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