Routing invoices and gaining approvals are two of the important tasks the AP department handles. By using AP automation software instead of manual processes, AP departments and associated business functions can really improve the way invoices are handled. Here is how AP software helps:
In the accounts payable process, communication plays a key role. More than the act of entering data into a system or specifying approval or rejection, the constant communication that happens between AP specialists and stakeholders from individual business functions is very important in AP as that is what keeps the process running. Instead of relying on and bothering employees to send one another notifications as soon as something is done, how about automating it? This way, you can be sure that the communication is kept going and the process is running. Automated notifications are sent to the concerned stakeholders when an action has been completed so that the next step can begin.
Approvals are often bottlenecks that slow down processes. When someone is absent or has a huge workload, it is a good idea to be able to delegate work to someone else so that the process does not take a hit. With AP software, there is scope for flexible approvals, where delegations can be made. Further, multiple approvals can also be handled by the solution.
Validating all the numbers and vendor details is an important, if cumbersome, part of accounts payable. All the invoices have to be matched with those already in the system to weed out duplicates. Instead of doing these tasks manually, you can use the the AP automation software solution. It automates this process and ensures error-free processing of all the invoices.