Paying invoices is the primary function—and ultimate goal—of accounts payable (AP) departments. But the process to pay invoices is often far more complicated than it needs to be. Paper slows everything down. Matching invoices to purchase orders is complicated. Invoices get lost while waiting for approvals—and are sometimes never found.
The entire process winds up being slow, painful, and difficult to control. As a result, it’s a struggle for AP to actually be able to pay invoices on time. And paying invoices late comes with consequences—including late fees and damage to your organization’s reputation.
AP automation—digital document and process management for AP—can change all of that. Here, we detail the answers to the most common questions we receive from organizations interested in automating AP. We hope it helps you decide if electronic document management for AP is the right choice for your organization.