Over the last decade, it has become increasingly apparent that automating accounts payable processes can significantly improve an organization’s overall financial operations. Automation adds substantial value to accounts payable, including real-time visibility into performance and financial status, increased accuracy, and better compliance with tax laws and industry regulations.
Most small to midsize business leaders are familiar with paper-based accounts payable processes. To better understand the benefits of automated AP solutions, it’s important to look at the similarities and the differences between the two methods for handling AP. This comparison also helps you identify bottlenecks in your process automation can eliminate.