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Resources   /   Glossary

Remote Accounts Payable

Remote accounts payable solutions allow users to access their AP information online. The main advantage of using a remote AP solution over others is that you can manage your accounts payable from anywhere in the world as long as you have an internet connection. These solutions typically encompass the usual accounts payable software features, such as reporting and invoice management, but are optimized for remote access. Remote AP solutions can be particularly useful during times when more people are working from home.

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Remote AP software is cloud-based, meaning your information is hosted remotely through the internet rather than a local server or personal device. These solutions have become common in recent years, especially as more people have worked remotely due to the COVID-19 pandemic. Remote accounts payable enables AP teams to communicate and share information regarding their systems through the network, eliminating the need to be together in the same room.

AvidXchange provides online AP solutions to mid-market businesses and makes it easy for users to stay on top of their accounts payable anywhere with an internet connection. With AvidXchange you get round-the-clock access to a suite of features so that whether your team is working from the office or remotely, you can remain on the same page and effectively manage your AP-related tasks. AvidXchange’s software frees users from the grind of manual paper and processes, allowing them to automate tasks that may have taken up more time than necessary in the past. The platform does not replace your existing accounting system. AvidXchange integrates with over 225 popular accounting software systems, providing users with a wide range of flexibility in terms of the platforms they can use.

Work from Home Invoice Processing

Work-from-home invoice processing leverages automation to streamline operations, reduce costs, ensure compliance, and enable remote AP teams to efficiently process invoices from the comfort of their home offices.

  • Remote Invoice Receipt– Work-from-home invoice processing begins with the remote receipt of invoices, which can be done electronically through email, web portals, or integrations with suppliers, eliminating the need for physical paperwork.
  • Seamless Validation– These systems conduct automated validation checks to ensure that invoices meet predefined criteria and comply with company policies, even when team members are working from home.
  • Virtual Matching– Automated processes match invoices with purchase orders and receipt records to ensure accuracy, preventing overpayments or duplicate payments, all while team members are working remotely.
  • Remote Approval Workflows– Invoices are automatically routed through approval workflows based on predefined rules and hierarchies, allowing remote approvers to review and approve invoices through user-friendly interfaces.
  • Effective Exception Handling– Exception handling is made efficient with automated systems that flag and manage discrepancies or missing information, enabling remote AP teams to resolve issues effectively.
  • Secure Remote Document Storage– Electronic documents are securely stored in a centralized repository, making it easy for remote team members to access and retrieve invoices.

Cloud-Based AP Solutions

Cloud-based AP solutions can be accessed by teams across the globe. The main advantage to using a cloud-based accounts payable solution is that you are not limited to storing your data in one central location. In this way, remote accounts payable solutions can be easier to operate than more traditional AP solutions. Of course, cloud-based platforms can be especially useful for hybrid or totally remote teams. There may be some cases where teams never meet face to face, but being able to manage their accounts payable remotely can help keep them on the same page.

AvidXchange is a cloud-based AP platform that is available to users 24 hours a day, seven days a week. This allows for greater flexibility, because while remote team members may not be on the same schedule as those who work in the office, they can still stay updated and receive information on their accounts payable system. For this reason, cloud-based AP solutions have skyrocketed in popularity over the past several years. As the world has shifted online, so, too, has the accounts payable process. Being able to access AP data remotely has become an expectation rather than a bonus.

Paperless Accounts Payable System

There are numerous benefits to using a paperless accounts payable system. First and most obviously, you will be able to cut back on paper, which can be crucial for climate-conscious companies. Paperless accounts payable also helps eliminate the manual, often tedious tasks associated with paper-based AP processes. You don’t have to worry about sorting through stacks of bills and sending out paper checks. Additionally, paperless solutions can offer greater security, due in part to the fact that there is less risk of losing important bills and documents.

Paperless invoice processing is another great paperless solution for accounts payable. AvidInvoice, AvidXchange’s invoice processing software, can help automate your AP workflows and create greater efficiencies in your invoice process. With AvidInvoice you can receive and manage all of your invoices in a single platform and use OCR technology to reduce human errors. The solution also allows for greater transparency, letting users see exactly what’s happening with their invoices and what steps they might take next.

Paperless invoice solutions like AvidInvoice make it easy to sort and manage your invoices, regardless of volume. They are especially good for helping users that have a large amount of invoices coming in at any given time. A paperless invoice approval system can enable you to approve invoices in a faster, more organized way. It can help prevent lost invoices and keep track of the items that you may otherwise overlook.

Online Accounts Payable

An online accounts payable system can transform your AP process for the better. There is no question that being able to manage your accounts payable online provides tremendous benefit to your teams and vendors alike. With an online dashboard you can easily keep track of your AP tasks and see where trouble exists, if at all, in your process. Similarly, with an online vendor invoice management system, you can more easily manage your invoices and stay on top of your bills.

AvidXchange’s online accounts payable solutions are scalable and cost effective, and they can help you get more out of your accounts payable. With AvidPay, AvidXchange’s bill payment software, you can make all of your payments electronically. AvidPay allows for quick, secure B2B payments, providing an efficient online AP solution for the middle market. Users can also create custom workflows and continue to receive necessary information from their existing accounting systems, meaning that they will never miss an important notice or item.

Online accounts payable solutions can be helpful in many ways. Whether you work directly with AP or help manage the accounts payable process from time to time, you can get things done faster and more efficiently using a remote or online system, especially if automation features are included.

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