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Resources   /   Glossary

AP Online

Accounts payable (AP) is an important business function tasked with paying all invoices and bills for a business. If your accounting team is still reliant on old-school, tangible AP workflows, they may be inhibiting the success of the department without even realizing it. Traditional AP workflows are more open to potential obstacles, preventing the AP processes from operating to their fullest strength. Additionally, these types of workflows can be extremely overwhelming due to the amount of paper they require.

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Paper-intensive AP workflows are not only time-consuming but also susceptible to fraud, costly, and inefficient. Switching to a paperless accounts payable system helps mitigate the risk associated with traditional AP workflows while helping to save time and money.

There are many online accounts payable solutions out there, some with more complex features than others. AvidXchange prides itself in offering one of the most trusted AP online solutions on the market, with inclusive software to handle all aspects of accounts payable tasks. Our purchase-to-pay solutions are built for a variety of industries and integrate seamlessly with a number of popular accounting systems like QuickBooks, Microsoft Dynamics, Sage, Oracle NetSuite, and many others.

AvidXchange’s solution provides a user-friendly interface with rigorous AP online trainings through AvidXchange Academy. Our training and education ensure our customers get the most out of our solutions. Our instructor-led education ensures users can confidently use our platform to make their AP processes as simple as possible, strengthening the efficiency of their tasks.

Our complete suite of purchase-to-pay solutions can help give your AP team the edge it needs to better serve your business and vendors alike. Let’s explore the various capabilities and benefits your AP department can experience by streamlining your AP processes with automation tools from AvidXchange.

Invoice Approval Software

With our invoice approval software, you can streamline your invoice approval process with dedicated automation software to simplify your invoice approval workflow. Using our invoice approval platform, you can reduce inefficiencies while optimizing control and organization, allowing your AP team to perform at its best. Invoice approval software saves you time and paper with the ability to receive, track and approve invoices digitally.

Our customizable design allows our software to be tailored to meet the specific needs of your AP team. The automated approach to invoice approval means all invoices can be coded, assigned to the proper workflow, and routed electronically for approval without the nuances and risks that come with paper workflows. Potential fraud and errors are limited thanks to OCR invoice scanning abilities of our software. OCR refers to “optical character recognition” which allows invoices to be automatically converted from a paper format to a digital format without any additional work.

With 24-7 visibility, you can access invoice status with real-time reports anytime, anywhere, from any device with our invoice scanning software. This program gives you the freedom to make updates as you need, as well as monitor growth and performance on the go.

Accounts Payable Automation Software

Implementing a reliable accounts payable automation software will help improve your AP processes by reducing the use of paper, limiting risk and fraud, and increasing efficiency. AP automation programs take the brainwork out of a once labor-intensive, paper-driven department, simplifying the procedure and increasing efficiency.

When searching for a new AP automation tool, there are a few things to keep in mind. There are certain accounts payable automation best practices and features you should look out for so you know you are getting a reliable, effective program to streamline your AP workflows.

As previously mentioned, OCR, or optical character recognition, scanning is an important error-guard feature included in our software. The presence of OCR invoice scanning means your AP team can scan invoices and be notified of potential errors right from the start of the process.

It’s also important for your AP automation software to be customizable, like AvidXchange. When your processes are tailored to meet your organization’s unique needs, your AP workflows will be more efficient and effective. Best of all, it does not have to change the workflow your team is accustomed to—it will just be completely digital.

Online AP Companies

Online AP companies are essential in today’s digital age. The influx of software designated for digitized processes and procedures has helped significantly reduce the number of obstacles previously present in traditional processes. This new, digital workflow lifts the burden of paper-heavy tasks for your AP team, giving them time to focus on other AP tasks.

The best AP software companies stay up to date with their offerings of error-guard and customization features, ensuring their solution is relevant to current expectations. Streamlining your AP procedure means your AP can spend less time sorting through paper invoices and receipts or tracking down respective personnel for approvals. AvidXchange encompasses all of the benefits previously mentioned to simply your AP process.

Partnering with accounts payable companies to outsource AP processes, like AvidXchange, can help eliminate unnecessary steps, as well as prominent risk, that exists within traditional, paper-centric workflows. With AP being such an important function in business, it is crucial to utilize programs and software that both limit the potential for errors and make the department more efficient. This will allow for a more effective AP process since the hiccups of a paper-based system are eliminated.

Best Online Bill Pay Software

The type of online bill pay software you select large depends on the size and industry of your company. One industry example is banks. The best online bill pay software for banks, for example, is one that can handle the demands of an extensive and elaborate AP workflow. The capabilities of AvidXchange provide optimization for these types of elaborate workflows.

The beauty of online bill pay software like AvidXchange is the automation of your AP process. This carries through from data entry through reporting. The automation can be customized and integrated with your existing accounting system so your workflow progresses directly through it for payment and further processing, helping your AP team not miss a beat!

With AvidXchange’s cloud-based AP software system, audits are simplified, too. All of your invoice information is easily accessible in digital form on the cloud, making audits a breeze. Anytime you need to refer to invoices, you view them on the cloud.

Furthermore, the capabilities of AP automation with AvidXchange can help your company save time and money by helping increase efficiency and limiting errors. With the reduction in errors and time, your AP team can become a better, more effective well-oiled machine.

Online AP Login

With your online AP login, you are connected to all the benefits that AvidXchange’s AP automation programs have to offer. Our paperless system provides all you need to execute a flawless AP process from start to finish. You can do this without having to worry about errors brought on by an extensive amount of paper.

AvidXchange’s online invoice app provides an easy solution to seamlessly track and approve invoices in real-time. It provides exceptional convenience from any device at any time and from anywhere. While there are many ways to optimize your AP workflow, the convenience and simplicity of an AP automation tool offer a magnitude of possibilities, unlike other methods.

When the invoices start to pile up, it’s nice to know you can rely on our software to upload invoices and organize the invoices as they go through the system. The digital files provide an audit trail, making the document easily accessible in the event of an audit or if you need to correct an error manually.

Additionally, your automated Ap system should be sized and scaled according to the size of your business and the extensiveness of your AP workflow. Having a customized system in place allows for quicker approvals so your system needs to coincide with your workflow timeline.

Accounts Payable Software

Accounts payable software from AvidXchange provides a better way to conduct your AP tasks. AP approval software is meant to increase the speed and efficiency of your AP process, enhancing the capabilities of your AP team. With this new efficiency, your team will find a reduction in errors previously present with a manual AP process.

The best AP software has features such as customization, cloud-based, automation, and more. With AvidXchange, you can easily integrate AP automation with your existing accounting program, bringing flexible workflows and improved internal controls to your system that’s already in place.

Implementing AP automation software that’s specifically designed for invoices is one of the many ways you can streamline your payment approval process. From start to finish, AvidXchange’s platform enables users to automate their accounts payable process, connecting simplicity and ease of use with greater security, accuracy, and speed.

AvidXchange’s user-friendly platform offers a slew of capabilities to bring your AP processes to the next level. With customizations, you can tailor your AP workflow through their system, limiting the presence of errors with their OCR abilities. The benefits coupled with its adaptability make AvidXchange one of the most effective and trusted AP automation tools in existence.

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