Unleash your team’s efficiency with AvidXchange’s suite of accounts payable solutions and say goodbye to filing cabinets and lost invoices. Accounts payable process automation with AvidXchange frees your team from the manual AP tasks that are slowing down your business, all while giving you greater control over your spend management with the click of a button.
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Remote AP software can usually be purchased through accounts payable solution providers and is usually cloud-based, meaning that 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 managers and teams alike 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. 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.
With AvidXchange you can achieve greater business success all while improving the accuracy of your processes and systems. The platform does not, however, replace your existing accounting system. AvidXchange integrates with over 200 popular accounting software systems, providing users with a wide range of flexibility in terms of the platforms they can use. AvidXchange makes it easy for users to stay on top of their remote AP needs.
An accounts payable organization sells AP solutions. These solutions often consist of software packages or other tools designed to optimize the AP process. AP organizations are not to be confused with AP departments, which exist within organizations to oversee the accounts payable process. Your accounts payable department may, for example, be responsible for finding and implementing AP software to promote greater workflow efficiency. While your entire company may be involved in the AP process to some extent, the accounts payable team is specifically focused on managing accounts payable.
There are many different accounts payable functions, all of which are necessary to maintain an effective AP process. Having a dedicated accounts payable team has become absolutely critical in today’s day and age, as it’s virtually impossible to conduct business without some degree of reliance on vendors and suppliers. Businesses need to source materials from somewhere, and that’s why it’s important that they have a solid AP process in place so that they can effectively manage their bills and get vendors paid on time. A trained AP team can make good use of AP software and help improve the overall accounts payable process—and therein lies the true value of an AP department.
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.
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.
AP automation companies provide the software for setting up and running a remote or online accounts payable system. They may also offer guidance and tips on accounts payable automation best practices. While there are a number of ways you can manage your accounts payable automation tools, it’s important to consider your existing systems and processes and try to fit them into your new solution where possible. Understandably, many businesses are reluctant to switch to new systems, but there are plenty of AP solutions that integrate well with other tools and platforms.
AvidXchange is among the best accounts payable automation software solutions, with over 210 integrations that span accounting software systems from SAP Concur to Oracle. These integrations can help to streamline users’ accounts payable workflows and make it easier for them to use what they need. With AvidXchange there is no need to abandon your existing accounting system.
Having an accounts payable system can drive efficiency across your AP team. By outlining the most important steps in the accounts payable process, you can more easily identify pain points and look for solutions that will actually make a difference. AP software benefits are vast and can mean the difference between a well-functioning AP process and one that falls flat. One of the primary goals of your AP team should be to design the most effective workflow possible, and this can be done with an accounts payable system.
If you are shopping around for an AP software system, you might try browsing a list of accounts payable systems to get an idea of what your options are and what systems might work best for your business. Optical character recognition, or OCR, translates written text into machine-encoded text and can be a helpful tool for accounts payable. AvidXchange offers some of the best OCR software for accounts payable through its invoice processing solution, AvidInvoice. This OCR technology can eliminate manual data-entry errors and save your accounts payable team time. Features like OCR can be incredibly valuable in an AP system, so you should decide on your must-haves and determine what’s nonessential for your business operations.
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.