Accounts Payable Automation - Optimize Cash Flow in your Business Ecosystem

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Accounts Payable Automation allows to function with limited resources and improves the cash flow in the overall business ecosystem.
Process automation future proofs your business setup. It builds up the business’ infrastructure such that you can stay ahead of the disruptions that crop up time and again.
Accounts Payable automation is the lifeline of your business ecosystem, your vendors, your value chains, and supply chains. It helps you to make timely payments such that your ecosystem is resilient and has sustained cash flows.
It is live and buoyant and your supply is ensured and ready next time. Assume a scenario consisting of client W and vendors X, Y, and Z.
Client W has to pay his vendors regularly and in time such that they are able to process the supplies and have ready availability of raw material. If vendors X, Y, and Z are not able to process the supplies, client W’s business gets affected thus affecting his cash flow too.
Accounts Payable Automation allows business ecosystems to always keep the lights on. As sending invoice images and making payments becomes online, cash flows are optimized, and processing of supplies becomes seamless thus keeping the ecosystem functioning smoothly.
This solution engages straight-through processing (STP) by using intelligent document processing (IDP), robotic process automation (RPA), artificial intelligence (AI) / machine learning (ML), analytics, and workflows. It captures and routes the data from the invoice images to the respective units for processing.
The AP solution uses 2/3 way auto-matching using goods received note (GRN) and advanced shipping notice (ASN) and auto-route the payment advice through pre-defined logic to the concerned stakeholders. In-built auto-validations, pre-defined thresholds and variances, as well as pre-defined logic, enables auto-detection of duplicates, fraud, etc., at the inception.
Visualization elements and dashboards display different process KPIs, offer visibility, and transparency across the entire process. The solution allows functioning with limited resources and keeps the entire business ecosystem live and thriving.
Accounts Payable Automation allows to future-proof the payables function. It allows to function with limited resources and improves the cash flow in the overall business ecosystem.
Source: Free Articles from ArticlesFactory.com Kate is a marketing professional with 10 years of experience. Kate loves spending her time writing on various topics such as technology, lifestyle, gadgets, social, etc.   .