That’s why we’ve put together a list of the top 10 AP automation tools for 2022. So, what’s the best AP automation tool to meet the needs of your business? With so many AP software platforms to choose from, it can be difficult to narrow things down.
AP automation limits late payment which costs businesses around $3 trillion annually.Businesses see payment times cut from 14 to 3 days with AP automation.AP automation reduces costly human error, saving around $53.50 per error.Automating the AP process saves businesses up to $14 per invoice.
On the off-chance you’re still wondering whether automating your payment processes is right for your business, here are some quick AP automation stats: This reduces costs, speeds up payment cycles and improves your financial position by limiting late payments and duplicate invoices.
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AP automation streamlines complex manual invoice processes, saving your business time, money and valuable corporate resources.īy harnessing advanced tools like optical character recognition (OCR), artificial intelligence (AI), machine learning (ML) and deep thinking technology, you can automate the entire invoice payment process. By now you should know that adopting accounts payable (AP) automation makes good business sense.
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