What is accounts payable process automation?
Accounts payable process automation is a method of minimizing human intervention and eliminating error-prone tasks from the accounts payable – or trade payables – process. This is done by using accounts payable software integrated with an online business network that connects trading partners digitally. AP automation delivers greater efficiency and effectiveness through:
- Faster invoice approvals: Errors are detected and corrected before submission and invoice data is e-mailed to approvers’ inboxes.
- On-time payments: With faster approvals, payment information is recorded in timely fashion and payments are sent automatically on the authorized date.
- Greater visibility: Through the online network, suppliers can track invoice and payment status themselves.
- Improved working capital management: Payments can be timed to better manage cash and capture early-payment discounts.
Automate to be more strategic
When you use an AP solution to automate accounts payable you can link your procurement and accounts payable processes to better:
Reduce invoice errors and exceptions
Enforce compliance and prevent contract leakage
Manage non-PO invoices and invoices for services
Increase the capture of early-payment discounts
Reduce invoice processing costs
Engage your accounts payable department in more strategic, higher-value activities
SAP Ariba Solutions for Accounts Payable Process Automation
Financial Supply Chain
Transform your payables from liabilities into strategic assets to boost free cash flow, free up working capital, and deliver more bottom-line value.Financial Supply Chain
SAP Ariba Invoice Management
Increase the accuracy of invoices to speed up both processing and payments. Let SAP Business Network do the work of pre-validating invoices so any missing or incorrect information gets corrected and you see fewer exceptions.Learn about invoice management