Accounts Payable Automation Software 

1. Invoice Capture

2.Coding invoices with corresponding accounts and cost centers

3.Invoice Approval

4.Matching invoices to purchase orders

5.Posting

Complete Procurement Process

Accounts payable is tedious and detail oriented. This makes it one of the more challenging accounting processes to perform manually. Automation is proven to streamline AP processing and reduce the cost per invoice. If manual processes or outdated clunky software are no longer working for you, it may mean you’re ready to implement new AP Automation Software

The 5 Signs

ACH (automated clearinghouse) is a method of electronically transferring funds. With accounts payable management software, the software provider may offer ACH but often will work more like an intermediary clearinghouse--you transfer funds to them, they transfer payment to your vendor.

With an Accounts Payable Automation solution like Fidesic, an ACH file is generated as your invoices are approved and automatically sent to your bank directly over SFTP. The bank then processes the ACH as if the client manually uploaded it, and it is something that nearly all modern banks support.

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Implementing new solutions like accounts payable automation software might seem like an unnecessary expense. But when you factor in the following cost benefits of AP automation, the average cost to process an invoice in your company can be measurable in cents.

Cost of Processing an Invoice