AP Automation Software
Tradeshift is the fastest-growing networked accounts payable automation platform in the world. Buyers at businesses like DHL, Air France-KLM, and Volvo use our AP automation solution to settle thousands of invoices every day.
Not all AP automation solutions or tools are created equal
When it comes to AP automation, “electronic” is not the same as a digital, as in a cloud-based software solution that is everywhere, all the time.
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AP Automation - FAQ
Accounts payable automation is a cloud-based software solution that reduces the amount of manual tasks involved in processing invoices giving accounts payable teams more time to spend on higher value tasks.
Accounts payable automation provides more control over the invoice handling process. Visibility and efficiency are also improved, typically yielding cost savings.
Choosing accounts payable automation empowers your organization to improve productivity, save valuable time and money, and increase collaboration due to improved access and visibility for a broader stakeholder group.
AP automation helps solve invoice and payments related communication issues by providing a singular platform that allows controlled access by different stakeholders. This access offers visibility to the process, invoice status and invoice history. In general, this access is empowering and reduces the need to ask questions when the information is more freely available.
AP automation software is cloud-based technology that automates the functions of your accounts payable team to digitize that process. Almost always, the AP solutions are paired with efforts to transition away from paper-based invoices to e-invoicing.
AP automation reduces your invoice processing costs in three ways. By centralizing and standardizing the invoice handling process, overhead is typically reduced. By reducing or eliminating paper invoices from your process, transactional cost savings can be achieved. Lastly, payment digitization lowers costs related to check issuing and can even yield rebates depending on the payment method.
To implement AP automation, your organization should get clear on your goals, bandwidth, and budget. Once a plan has been established and approved, choose an AP automation provider through careful research, or just call us and start a conversation.
AP automation benefits not only the accounts payable department by automating some of their more mundane tasks, but also improving relationships between procurement and suppliers due to the increased collaboration and supplier self-service options.
First, your accounts payable department should analyze their goals and budget before beginning the search for an AP automation vendor. When modernizing any process, it pays to keep an open mind to change. Making a manual process digital does not always make sense. What if you could avoid that process entirely?