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Resources   /   Glossary

Cloud Based AP

Cloud based AP, as the term implies, refers to accounts payable software that operates through the cloud. One of the primary advantages of using a cloud based AP system over other types is that it allows for greater flexibility. Being able to scale your system based on your current usage can save you money that can then be spent elsewhere. Any accounts payable organization can benefit from storing their data in the cloud, and accounts payable software for large business is especially great for cloud systems, as these companies are generally responsible for managing large amounts of data. Many businesses find that it’s easier for them to access their data on demand in a cloud-based system rather than having to manually sort through paper bills and invoices by hand.

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AvidXchange’s cloud-based accounts payable platform can provide your company with online access so you have flexibility and visibility when you need it. This could allow for remote work and checking invoice and bill statuses at any time and from anywhere. Unleash your team’s efficiency with AvidXchange’s suite of accounts payable solutions and say goodbye to filing cabinets and lost invoices. AvidXchange’s AP process automation software frees your team from the manual AP tasks that are slowing down your business, all while affording you greater control over your spend management with the click of a button.

AvidInvoice is AvidXchange’s invoice processing system that is built to automate all aspects of the AP process. AvidPay is B2B bill payment automation software, and AvidBuy allows for procurement and purchase order automation. Together, these software applications provide a suite of valuable automation features to help enhance your existing business practices and make your AP process run more smoothly and efficiently. With its powerful automated software systems, AvidXchange is transforming how middle-market companies are managing and making bill payments.

Accounts Payable Solutions

There’s no doubt about it—AP can be an incredibly tedious process. Without the proper tools and systems in place, it can be time consuming and difficult. Thankfully, there are plenty of accounts payable solutions available to help automate your AP tasks, thereby speeding up the process and making for a more efficient system overall. It’s important to research different accounts payable systems and accounts payable solution providers in order to find a solution that’s compatible with your business operations and will deliver the maximum results to your AP team.

AvidXchange is one such AP solution that can replace manual AP with a digital application suite that provides you with 24/7, on-demand, remote access due to the fact that all of your data is stored in the cloud. This type of service can be especially useful for companies with a remote or hybrid workforce. Being able to access AP data from anywhere in the world is a great way for teams to connect and to help them stay on the same page with accounts payable processes. Utilizing the AvidXchange platform alongside your existing AP practices can enhance your wider system and ensure that all matters are handled correctly, whether your team is working in the office or at home.

Cloud-Based Accounts Payable Solutions

One notable feature associated with cloud-based accounts payable solutions is that you’ll rarely, if ever, lose track of your data. Digital AP solutions, unlike traditional paper-based management processes, can store data safely in the cloud. This greatly reduces the risk of important information being lost or stolen, as can happen when dealing with paper checks and physical forms.

Cloud-based AP solutions are undoubtedly the way of the future, and so it’s a smart idea for businesses to start thinking of ways to transition to this type of system if they want to remain competitive in their respective spaces. Having an accounts payable mobile app can also work wonders for your team, allowing them to quickly and easily access AP data from their smartphones.

AvidXchange’s cloud-based AP solution helps users stay organized because they can access any invoice or billing information they need, whenever and wherever they need, via a digital dashboard. This is yet another great way that businesses can optimize their workflows and make sure that their AP processes are being handled in the best way possible to achieve results. Rather than having multiple documents and items strewn about all over the place, storing everything in a centralized, cloud-based location can make for a better experience for everyone involved.

Best Accounts Payable Software

What is the best accounts payable software? In truth, there is no right or wrong answer to this question. There are many different software systems available on the market today, and the online accounting software that’s going to be best for your business will depend on many different factors. You might also consider an offline accounting software platform if you wish to access your data during times when you do not have a constant network connection. The best AP software, then, depends heavily on what kind of business you run and what your ultimate goal for automation is.

Accounting software like QuickBooks is a great example of a system that can help businesses manage their finances. QuickBooks makes it easy to manage your payroll, offering a simplified process and time-saving features to create a seamless and secure payment process. AvidXchange is among the best accounts payable software solutions for middle-market companies, processing over 53 million transactions worth $145 billion each year. In total, it has paid more than 700,000 suppliers through its network over the past several years, making it a safe, reliable solution for middle-market businesses looking for a great accounts payable software to help them organize and speed up their AP processes.

Best Accounts Payable Automation Software

When shopping around for the best accounts payable automation software, it’s important to keep in mind your must-haves. What are some of the key features and points your business requires in an automation platform? Of course, at the end of the day, you want your AP automation software to enhance your accounts payable process, not hinder it, which is why it’s so important to ensure that you’re implementing the right tools for your business’s needs.

AvidXchange is one of the best AP automation companies because it can improve your AP team’s efficiency via automation. Automation can take care of repetitive, manual tasks so that your team can focus on providing value-added work instead. It can also help to reduce the amount of errors, mistakes, and lost information. When considering installing any sort of new automation system, you should check to make sure that these basic tasks are covered in the platform.

Accounts Payable Automation Solutions

Accounts payable automation solutions could help middle-market companies streamline their AP processes. With AvidXchange, you can combine PO software with invoice automation to match the purchase order with the invoice to create a seamless process and AP automation workflow. The PO application standardizes purchasing patterns while keeping track of purchasers and products for effective spending and saving. This makes for an all-around effective accounts payable automation software capable of handling multiple PO tasks in a simplified way.

AvidXchange’s PO software, AvidBuy, is a comprehensive, web-based solution that enables users to automate their companies’ purchase order processes and better control costs and prevent unwanted purchases. AvidBuy also helps to determine purchase patterns and inefficient spending to eliminate multiple purchasers for similar products. They can create requisitions for frequently purchased products and gain control of the who, what, and when of their purchasing processes. In addition, with AvidBuy, the supplier will email an invoice when your order has been processed. From there, AvidXchange matches the purchase order and invoice for you. AvidBuy allows users to improve visibility into their purchases and processes to determine the best purchasing patterns.

AP Software Companies

Trying to find the right AP software for your company can be a challenging task, but it is important to find one that works for your business while streamlining everyday processes. You could find accounts payable software for banks, accounts payable software compatible with QuickBooks, and various other AP platforms compatible with a host of integrations. To get an idea of some of the top accounts payable outsourcing companies, you might turn to a list of AP software companies. There are often many options, as AP software has become an increasingly relevant method for creating a better AP experience for organizations across the board.

The best AP software companies for mid-sized businesses are often designed with flexibility in mind. One of the reasons for this is that by hosting your data in the cloud, you can access real-time data from anywhere at any time. AvidXchange’s cloud-based automation also helps you process invoices and pay suppliers more quickly and efficiently. These are some of the reasons to consider utilizing the services of a cloud-based platform that is optimized for middle-market businesses—particularly AvidXchange. Multiple middle-market companies have used this AP solution to help make their accounts payable processes more efficient overall. By choosing a less paper-heavy system, you may have more time and money to invest in cloud-based systems and solutions that work to create a modern, dynamic AP experience.

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