FAQ
What is AP Automation?
AP automation, or accounts payable automation, is the technology-driven method of managing accounts payable processes, replacing the manual tasks typically associated with these activities.
What is "Touchless" Invoice Processing?
Touchless invoice processing, also known as invoice processing automation, utilizes technology to efficiently manage payments to suppliers and streamline the entire accounts payable operation. This automation minimizes manual data entry, although approvals might still require digital authentication.
Why Use AP Automation Software?
Automating your accounts payable processes can significantly reduce costs and processing times, facilitate scalability, enhance payment management, reduce fraud, minimize errors, and simplify audits.
Cost of AP Automation Software Prices for AP automation software can range from as low as $25 per month for basic services to over $2,500 per month for advanced functionalities. Consider any additional costs for hardware, support, and training when evaluating options.
Is AP Automation Software Worth It?
AP automation software is generally considered a worthwhile investment, with many businesses experiencing up to a 60% reduction in processing time and a 50% decrease in costs.