When you receive goods or services on credit, your supplier or the vendor will send you an invoice. These types of invoices are called Accounts Payable invoices or AP invoices.
When you receive AP invoice via email or by mail, you may create a bill in your accounting system with the invoice details such as vendor, invoice no., PO no., invoice date, amount, due date, etc. so, you can track and make sure to pay the supplier on time. This is what the AP processing means.
The process of extracting data from the AP invoice and entering into the accounting system can be automated, so you can eliminate manual repetitive work. This is what the AP automation means. Typically, the automation will give you about 98% productivity in terms of time.
Typically, 4 to 6 months.
Yes. Our AP automation system can be configured to work with any ERP or accounting system whether it’s on-prem or cloud-based.
Typically, one (1) to two (2) weeks.