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"The Strategic Advantages Of Accounts Payable Automation"

The Strategic Advantages Of Accounts Payable (AP) Automation

The Strategic Advantages Of Accounts Payable (AP) Automation

White Paper: Mineraltree

There is a rapidly growing demand for Accounts Payable Automation as the traditional process is very manual and labor intensive. An automated process reduces errors, eliminates fees incurred from late payment, and eliminates fraudulent charges by increasing visibility and improving controls.

Be sure to choose a solution that integrates with your financial system of record and your bank account, otherwise you will end up with two parallel systems. It is also important to understand whether the payment execution features are consistent with your organization’s expectations for cash flow and management, and payment control.

This whitepaper covers the strategic advantages of Accounts Payable (AP) Automation and why leading finance executives are making AP Automation a priority.

It highlights:

  • Why Companies Automate

  • Why Automate Accounts Payable?

  • The Hidden Costs

  • The Time To Automate Is Now

  • Deciding To Automate

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What is

What is Automated Processing ?

As a technical term, Automated Processing is used for describing any process that has been automated through the use of computers or computer enables systems or software. An automated processing system requires less time and human resources to deliver a task. Relating to this, an Automated Data Processing is a technology that automatically processes data where technical devices like computers and communicating electronics are attached to gather, store and distribute data.

What is accounting ?

In financial transactions of business— the systematic recording, reporting, and analysis are termed as accounting. It is a system that is used to measure business activities, process information and help aid in making relevant business-related decisions. Usually, accounting is referred to as the ‘language of business’, hence the better the understanding of language— better are the decisions made. The basic accounting terms include terms like revenues, liabilities, assets, expenses, balance sheet

What is accounts payable ?

Accounts Payable involves the payments made to the supplier in a short period of time to avoid non-payment.We avail services such as electricity, the internet, and telephone for which we pay at the end of the month. It means that a customer is handed over the bill after a particular billing period. This turns out to be Accounts Payable.

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