Automating Accounts Payable
Almost every organization has an accounts payable (AP) department. Accounts Payable represents a liability for a product or service that has been delivered, but payment has not been made. Manual processing of Accounts Payable is expensive and time consuming. Automating AP can increase employee and vendor satisfaction and can ensure financial and regulatory compliance. Additionally, information is more accessible and payables can be more effectively managed.
If you have not automated your Accounts Payable process, you should determine what solution is best for your organization and implement it. The savings opportunity is too great to overlook, and effectively managing your Accounts Payable process is a critical component of sound financial management.