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Resources   /   Glossary

Remote AP

As more and more businesses are finding themselves needing to keep up with numerous suppliers and customers, it is no surprise that many companies look for platforms and software systems that help them streamline their accounts payable processes. This is especially true for middle market businesses, who often find themselves overwhelmed by the number of invoices coming in each day that need to be processed.

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Some businesses are still using manual processes to handle these invoices. This can lead to a number of manual data entry errors as well as processing errors that can result in missed or duplicated payments for a single invoice. Because of this, many remote apps or software solutions allow businesses to create and maintain paperless AP tracking using cloud-based solutions.

Rather than relying on these traditional, manual processes for processing your accounts payable, you can use an automated system or software solution — such as AvidXchange. These solutions provide a number of advantages to your business. Among the highest of these advantages is the ability to more effectively process your accounts payable remotely. A traditional paper-based processing system keeps invoices and payment receipts as hard copies and stored in filing cabinets in a physical office. This makes working remotely quite difficult for your AP team and also makes it more difficult to have multiple people working on something because each person needs to be able to access the physical document. With an AP support remote app, on the other hand, your team can easily access all of your AP information — such as invoices and payment receipts — remotely at any time. This makes a remote app a great solution for businesses that may have a lot of invoices and accounts payable information to process, for example, middle-market businesses.

Invoice Payment Platform

The traditional method of manually processing invoices and accounts payable information has continually decreased in popularity over the past few years. A large reason for this decline in traditional accounts payable processing methods has been the rise of online billing software solutions. Technology has advanced a lot over the past few years, and this means that new and innovative solutions tend to be much more easily accessible for businesses today than they were in the past. This is especially true when it comes to financial solutions — such as accounts payable processing solutions, like AvidXchange.

AvidXchange offers a cloud-based AP platform that helps to streamline your accounts payable processes and transition your AP invoices and payment information into a more easily accessible digital format. This top invoicing software solution also allows you to process and pay all of your bills electronically. By eliminating the need for paper checks and payment receipts, AvidXchange can help your AP team cut down on wasted time trying to locate hard copies of documents and reduce the expenses associated with your AP processes. This means that you can spend less of your time and resources processing your accounts payable while improving efficiency and accuracy at the same time.

Invoice Billing Software

One software solution that has become very popular over the past few years is AP invoicing software. This software can be used to help your company create and maintain a more effective and efficient billing process. A good billing process is essential to helping you maintain good relationships with your suppliers. After all, no supplier will want to work with a company that does not pay them on time or frequently miscalculates the amounts they should be paying. Luckily, there are a number of ways that you can avoid these mistakes.

The first way you can improve your billing process’s accuracy and efficiency is to implement an invoice billing software solution — like AvidXchange’s AvidPay. These systems can help you to create more scalable and streamlined processes for processing invoices that allow your AP team to more effectively manage the number of invoices coming in each day. AvidXchange offers easy invoicing software solutions that help your business to make 100% of your bill payments electronically and with your suppliers’ preferred methods of payment. This can help not only improve efficiency on your end of the deal but also show your suppliers that you value their business and make it easier for them to work with you as well.

Paperless Invoice Software

With the continued development of invoice approval software solutions, it has become almost a necessity to utilize a software solution for your business‘s accounts payable if you want to stay in competition with your competitors. This is because businesses that utilize paperless invoicing software solutions are able to more effectively and efficiently manage and process their accounts payable information. This means that they are able to ensure good relationships with their suppliers and are able to stay on top of their expenses as well.

For this reason, if your business is not already making use of an invoice management software solution, it may be a good idea to find one to use going forward. Finding the right software solution can be challenging, especially because of the variety of options available on the market today. But, without an invoicing system that allows your AP team to more efficiently manage your invoices, it can be incredibly challenging to keep up with the high volume of invoices that middle-market businesses receive. Luckily, though, there are a number of solutions — such as AvidXchange — that can help to streamline and simplify your AP processes and create a more manageable and automated invoicing system for your business.

Vendor Invoice Management System

One of the hardest parts of invoice management for a business can be ensuring that you are getting the right payments to your vendors consistently. No vendor or supplier wants to work with a business that does not pay them on time or who does not pay them the right amount for their services. Because of this, it can be crucial to opt for a vendor invoicing process solution that takes this into account. One example of a solution that can help you to improve your relationships with your vendors is AvidXchange.

When you utilize AvidXchange’s AvidPay system, you are able to select a payment method and save that method as that vendor’s preferred payment method. This makes it easy for you to pay vendors in their preferred payment method without having to keep a dedicated vendor payment process flowchart that details each vendor’s preferences. In addition to simplifying the process of selecting which method of payment to use, AvidXchange offers a completely paperless solution to your billing process so that your AP team can spend more of their time actually managing your accounts payable rather than spending all of their time trying to track down invoices or payment receipts. AvidXchange’s cloud-based platform allows your AP team to get easy visibility and control of your AP information from any location at any time.

Bill Pay Software

There are a number of software solutions available on the market today. This can be a great opportunity to find the absolute best solution for your business and a challenge because there are so many solutions to choose from. One of the most important things you can do when searching for a software solution for your accounts payable process is to know what you are looking for in a solution. Maybe you are looking for a general accounts payable software option that helps you to streamline your entire AP process. If this is the case, you may want to consider a full-service solution like AvidXchange.

But, if you are looking more specifically for an invoice scanning software solution, then you may be fine with a more specialized software option. This being said, it can be helpful sometimes to opt for the more full-service solution because it can help you create a more streamlined and simplified AP process. This can greatly increase your productivity and efficiency in processing invoices and payments.

Invoice Approval Workflow

Coming up with an effective invoice approval workflow can be incredibly challenging. This process can be made even more challenging if you do not have a clear process for processing invoices. Many businesses that rely on manual invoice processing can find themselves running into problems when it comes to creating an approval workflow. For this reason, it can be incredibly beneficial to opt for a software solution that helps you streamline your invoice processing procedure. A solution like AvidXchange is a good example of a software solution because it can help you to create a streamlined and simplified electronic workflow that prioritizes efficiency and accuracy.

Rather than relying on manual data entry and a generic invoice approval email template, a system like AvidXchange can help you to create a consistent and effective workflow for your invoices. This can be incredibly valuable in today’s continually changing online market, and it can help your business keep up with the large number of invoices and other accounts payable information every day. By not only helping you to process invoices more efficiently but also ensuring that you are properly paying and tracking them with easily customizable workflows and easy electronic billing, AvidXchange can provide an invaluable service to your accounts payable process. This makes AvidXchange a great solution for any business wanting to transition to a paperless billing system or businesses that simply want to streamline their AP processes and better manage their incoming invoices.

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