Accounts Payable
Streamline your AP processes with touch-less invoice processing, automated approvals, intelligent email management, seamless ERP integration, and comprehensive compliance checks.
Process every invoice exception in just 3 minutes!
95%+ Invoice Capture. AI parser to extract invoice details at header and line levels. More
Centralized Monitoring. Classify emails and auto-respond with AI based email drafts. More
Zero-Touch Processing. End-to-end automation to achieve truly touch-less invoice processing. More
Auto-Code Non PO Invoices. AI ML-recommended GL codes and other account dimensions. More
80% AP Close Automation. Reconcile ledgers, calculate accruals, and post journal entries. More
360° Visibility. Custom dashboards for visibility into the status of payables, process & compliance. More
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Actionable guidance on the benefits of AP automation to help you navigate a crowded market to select the right solution for your needs.
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Download NowAccounts Payable (AP) automation is the digital process of managing and processing accounts payable tasks by automating it. Through automation, traditionally manual accounts payable tasks are converted into automated workflows, streamlining invoice processing end-to-end and reducing manual errors.
By automating the AP process, businesses can ensure automated timely payments, improve overall financial control, enhancing efficiency and accuracy. AP automation boosts productivity and operational efficiency, upon seamlessly integrating with your existing ERP systems, providing a smooth and compatible experience.
Accounts payable automation software is one of the essential account payable tools in any P2P process that digitizes and automates the entire accounts payable process. This significantly reduces the need for manual intervention, thereby lightening the workload and minimizing errors.
Such accounts payable workflow software minimizes errors and ensures strict compliance with internal controls and regulatory requirements. The software’s integration with business networks guarantees accurate exchange of data & information, and transaction processing between trading partners, further enhancing efficiency and accuracy.
The best AP automation software must include features such as tracking key performance indicators like processing times, discount capture rates, and supplier compliance. You should also check the ease of account payable automation software integration with your existing systems.
It should also include robust reporting and analytics capabilities to monitor performance metrics and identify areas for improvement. Among other features, it should offer detailed reports on processing times for different types of invoices or track the percentage of discounts captured from early payments.
Accounts payable workflow software helps the AP team scale by streamlining invoice processing and reducing time spent on manual tasks. AP automation empowers teams to focus on strategic work, enhancing financial control and visibility, thus boosting efficiency and accuracy.
AP automation eliminates time-consuming tasks, allowing teams to concentrate on more strategic, high-value activities. Additionally, automation provides better visibility into the accounts payable process, ensuring accurate tracking and forecasting of cash flows, thereby enhancing financial control and boosting efficiency.
AP automation software processes digital supplier invoices, extracts data using OCR technology & processes for payment through a streamlined workflow. Upon customization, businesses can minimize manual intervention & automate other AP tasks like suggesting general ledger codes or approval routes.
By automating accounts payable, you can save costs by 30-40% by eliminating manual labor & lower processing costs by up to 80%. This, coupled with quicker payments leading to early payment discounts and improved cash flow, can significantly boost savings and financial efficiency.
To automate the accounts payable process, businesses should implement accounts payable automation software that can capture invoice data, streamline approval workflows, and automate payment processing. The AP software should be capable of extracting invoice details of multiple formats using AI, thus reducing manual errors.
Integrating accounts payable workflow software into the existing financial systems allows for seamless processing. Businesses can also configure the software to match invoices with purchase orders and receive documents automatically, ensuring accuracy and speeding up the entire process, leading to improved efficiency and cost savings.
When integrating AP automation with ERP systems, selecting software that supports flat-file or API integration with your ERP is crucial. To make an informed decision, evaluate options through reviews, check vendor customer retention rates & request ROI analysis before subscribing to a plan that aligns with your business needs.
Next, prepare for implementation by leveraging consulting and support services and revising business processes to align seamlessly with the new system. Ensure the software supports global payment processing to utilize its capabilities thoroughly.
HighRadius has an ML-based recommendation model that can predict GL accounts and other accounting dimensions such as cost center, department, project, plant, business unit, and more. It leverages historical non-PO invoices, looks for patterns around multiple invoice data points (business unit, vendor, GL account, amount, location, etc.), and finds similarities.
The system captures invoice data almost immediately after receiving it, integrating through channels like email, EDI, or supplier portals. The extracted data is quickly added to the AP processing queue, providing near real-time processing.
HighRadius supports two workflows: Coding Workflow and Approval Workflow. Threshold-based conditional approvals can be configured, with or without exceptions. You can maintain one or more designated approver(s) for organization-specific master data such as department, cost center, plant, project, business unit, company, location, etc., and initiate invoice coding and approval workflows.
The data capture rate is highly accurate, supported by the system’s ability to parse various formats and validate extracted data against master records like PO details and goods receipts. The system’s classification and extraction processes ensure precise capture of both header and line-level information. Structure invoices are captured with 100% accuracy. ML models and GenAI capture information with more than 90% accuracy at header and line level for matching
Yes, our tool can handle region-wise taxes by validating tax categories, rates, and calculations against country-specific tax laws. It integrates with third-party tax aggregators to ensure accurate compliance.
The software offers two-way integration with leading ERPs for importing master data, POs, and GRNs, and exporting validated, matched, and approved supplier invoices. Data exchange can occur via APIs or SFTP in near real-time or as a scheduled batch process.
The system can validate and match invoices against Purchase Orders (POs) and Goods Receipt Notes (GRNs). It checks supplier details, billing details, and PO information against master data and performs mathematical validations. The matching process identifies variances in price, quantity, and payment terms at both the header and line levels, ensuring accuracy and compliance with business rules.
The AI-powered AP Inbox organizes and classifies emails received in Gmail or Outlook. It categorizes emails into labels such as W9, New Invoice, Potential Duplicate Invoice, Payment Follow-Up, and more. The system can infer supplier intent from email content and recommend appropriate responses, streamlining communication and reducing manual effort.
