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Resources   /   Glossary

Online Accounts Payable Software

Online accounting software can help your company to keep better track of and organize your finances. This online software can help you to eliminate paper copies of your company’s invoices, which can help prevent common mistakes such as duplicate payments or lost invoices. Online accounts payable software can help your company to convert your paper invoices into an electronic format. These electronic invoices can then be routed electronically for any approvals and payments which can greatly reduce the chance of an invoice going missing or being paid twice.

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All of these invoices and their respective information can be stored online as well. This prevents any need for filing cabinets or hard-copy, printed receipts or invoices. Not only can the online storage of your company’s accounts payable documents lessen the overall paper clutter of your business’s finances, but it can also help to reduce unnecessary costs. Instead of having to pay for stamps, checks, envelopes, and other paper costs, you will have access to all of your accounts payable financial records online.

These records can be viewed at any time and from any place with internet access with the cloud-based accounts payable solutions that AvidXchange offers. Unlike offline accounting software, AvidXchange’s AP software can be accessed by any member of your team from any device so long as there is internet access. This allows you to have better access overall to your business’s financial information and to better manage your AP process. Additionally, because more people will be able to access and track invoice information, any errors can be quickly caught and solved before they can cause problems for your business.

Automated Accounts Payable

What is AP automation software? Automated accounts payable software is software that helps you more easily manage your company’s AP process. It can also help you replace the manual aspects of your AP process with a digital platform, allowing you to stay better organized and in control of your finances. This software can assist you in streamlining your company’s entire accounts payable process. The best AP automation software can help to simplify the entire AP process, from tracking incoming invoices to helping you quickly and securely make payments.

The best accounts payable automation software can not only simplify your AP process; it can also facilitate paying your bills faster, while at the same time cutting processing costs and reducing the risk of fraud and security issues. AP automation software like AvidXchange provides you with the necessary tools to streamline and automate your AP process with a customizable AP automation workflow that can match your company’s current workflow. Software like this can help your AP team to stay organized and in control of your company’s AP process while still reducing the amount of time and work they would need to spend to process invoices and payments.

Accounts Payable Automation Solutions

One of the most difficult things about adopting a new AP software or accounts payable automation solution can be having to rearrange or completely start over with your current AP system. With AvidXchange AP automation software, this is not the case. AvidXchange has over 210 integrations with common middle-market accounting software. This means that AvidXchange can easily help you streamline your AP process without forcing you to completely overhaul your current system.

AvidXchange has made partnerships with widely used accounting software systems—such as their user-friendly NetSuite and Sage 100 AP automation integrations—in order to help your company streamline its AP process without having to abandon its current accounting system. The AP automation NetSuite integration with AvidXchange can help you to develop a more streamlined and secure way to process invoices and payments while eliminating paper and allowing your AP team 24/7 remote access to your financial information. Similarly, their integration with Sage 100 Contractor can help your company to create efficient workflows that can better increase profitability and visibility into your business’s cash flow. AvidXchange seamlessly integrates with both of these widely used accounting software systems and so many more in order to help your company develop a simple and streamlined accounts payable process that is paperless and can scale with the growth of your company.

Best Accounts Payable Software

When considering AP software, it can be difficult to determine the best choice for your company based on the accounts payable software reviews. Because there is an extremely long list of accounts payable software solutions in the marketplace today, determining which software to choose can be difficult. One extremely important asset of many of the best accounts payable software companies is the ability to remotely access your AP information at any time. Companies like AvidXchange offer 24/7, on-demand, remote access to your company’s invoice and payment information so that you can be sure that you are in control of your finances.

This means that even if some or all of your AP team is working remotely, they can still have access to your company’s data if they have an internet connection. This opens up the opportunity for your AP team to not only access the information they need from wherever they are, but also, because of the cloud-based system that AvidXchange uses, your AP team can be more effective in noticing and correcting errors before they become a larger problem. If more people can access the same information, any mistakes can be noticed earlier and fixed promptly.

Accounts Payable Solutions

Accounts payable solutions like AvidXchange are meant to help reduce the amount of manual work required to ensure that your company’s accounts payable processes are running smoothly and your suppliers are getting paid quickly and correctly. When it comes to accounts payable systems, AvidXchange has gained the trust of the over 700,000 suppliers who have joined the AvidXchange supplier network. Not only are all of these suppliers already in the AvidXchange system, but each one already has a payment preference built into the software so that you can ensure that you are paying your suppliers in their preferred method of payment.

AvidXchange offers accounts payable software compatible with QuickBooks and many other widely used accounting systems so that your transition to a fully paperless accounts payable system can be as seamless as possible. Software like AvidXchange can help your AP team to develop a more efficient and streamlined accounts payable management system so that your company can remain in charge of your finances. It can also ensure that you are keeping your suppliers happy by paying them quickly and in their preferred payment methods.

Accounts Payable Software For Large Business

When looking for accounts payable or accounting software to utilize in your business, especially accounts payable software for large business, you will probably want to look for software that will promote your business’s continued growth and that can grow with you. AvidXchange is an accounts payable organization that provides you with AP automation software that can continue to help you as your business grows from a mid-size to a large business. By helping you to eliminate paper costs, such as stamps, checks, and envelopes, AvidXchange’s software can help your company to reduce your overall costs, which could help you to continue growing into a large business.

Additionally, eliminating the paper from your AP process can also help to reduce any unnecessary efforts spent signing and sending paper checks, which can also help to save your AP team time that they can spend on more value-added tasks. By helping to automate and streamline your business’s AP process, AvidXchange can help you to better manage your finances and devote your attention to other aspects of your business, such as business growth. Because AvidXchange AP automation software is built to scale alongside your business, you can be sure that you can continue to use it as you transition from a middle-market business into a large business.

Accounts Payable Solution Providers

Accounts payable solution providers can help you to more effectively structure and manage your company’s accounts payable. An automated accounts payable software for banks and middle-market businesses may have different features than an accounts payable software geared specifically for smaller businesses or accounting software like QuickBooks. While each of these systems have their own advantages, if you are a mid-sized business looking for an AP software solution to help you streamline your AP process, software like AvidXchange would be a good choice.

Top accounts payable outsourcing companies offer your company solutions to help you manage your accounts payable without having to waste time and money on manual data entry and sorting. The automated AP software that AvidXchange provides can not only offer your company additional flexibility and security in approving invoices and making payments, but it can also help to improve the overall efficiency of your AP process. The cloud-based system eliminates the need for any hard-copy paper invoices and allows your entire AP process to be managed electronically. This can not only reduce your company’s expenses associated with the AP process, but it can also help to reduce mistakes like duplicate payments or misplaced invoices.

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