Accounts Payable Automation

AP automation can improve the payment process by generating automated invoices, which are automatically reconciled against contracts, goods received, and purchase orders. Electronic validation of invoices against these data sources reduces human error and increases cash flow.

By automating accounts payable, you can have better transparency and insight into cash flow. In addition, you can easily import and export data for up-to-date financial reporting, improve spending visibility for budgeting and forecasting, and improve business cycle planning.

Intelligent automation creates new vendor profiles using Automation Anywhere’s Document Automation. It can process invoices and route them to the AP team for validation, enter them in the enterprise resource planning (ERP) system, match invoices to the purchase order and goods receipt, monitor invoice approval, and process payments.

Intelligent automation using OCR/AI authenticates documentation, detects payment anomalies, cross-reference invoices to supplies to verify goods or services have been received prior to payment, and flags discrepancies for investigation by the AP team in real-time, on multiple accounts simultaneously.

RPA payment automation replaces manual tasks, reduces human error, updates the accounting system with invoice automation, pulls data, creates purchase orders, updates dashboards payment methods, and generates reports. This reduces processing costs, allows AP staff to concentrate on higher-value tasks, and reduces overall costs.

RPA invoice management can cross-check multiple data sources, flag duplicates or discrepancies, and generate statements and exceptions. It simultaneously authenticates information for compliance and accounting standards in numerous jurisdictions, ensuring adherence, reducing risk, and providing more security with real-time audit trails.