What is Accounts Payable Automation?
The accounting world is buzzing about accounts payable (AP) automation, and for good reason. By automating slow, repetitive tasks that would normally waste hours or even days each month, businesses can free up their teams to focus on more strategic work.
Table of Contents
Despite the clear benefits, some finance teams still hesitate to embrace this technology. Whether it’s a lack of trust in new systems or concerns about time and resources needed for implementation, the advantages of AP automation far outweigh the initial challenges.
It’s time to let your finance team break free from low-value, high-effort tasks and put their skills to better use. Let accounts payable automation handle the rest.
What Does Accounts Payable Automation Mean?
Let’s start with the basics. Accounts payable automation refers to the use of tools and processes that replace manual tasks with automated workflows. These tools eliminate the need for repetitive data entry, manual invoice processing, and error-prone approval methods.
Typically, AP automation relies on dedicated software that digitizes and streamlines the entire process. For instance, it allows you to submit, review, and approve invoices and purchase orders electronically. Advanced solutions like Zahara even use Optical Character Recognition (OCR) to extract information directly from invoices, making data entry a thing of the past.
The primary goals of accounts payable automation are to:
- Speed up the approval process.
- Reduce human errors.
- Scale operations seamlessly as your business grows.
Key Benefits of Accounts Payable Automation
Once implemented, AP automation delivers significant advantages that benefit your entire team. While the initial investment may seem daunting, the long-term savings and efficiency gains make it a worthwhile choice. Here’s how Zahara’s AP automation software stands out:
| Benefit | Description |
|---|---|
| Saves time | Automates repetitive tasks like invoice processing and data entry, freeing up hours every month. |
| Reduces Errors | Minimizes human mistakes with advanced OCR and automated workflows. |
| Strengthens internal controls | Ensures all purchases go through proper approvals, preventing unnecessary spending. |
| Cloud based document storage | Eliminates the need for physical storage rooms by securely storing all files online. |
| Supports flexi work | Employees can access and process documents from anywhere, supporting remote and hybrid work. |
Quick Facts About Accounts Payable Automation
- Businesses using AP automation process invoices 2-3 times faster than manual methods.
- Automated systems reduce invoice errors by up to 90%.
- Companies save an average of $8-$10 per invoice by switching to automation.
- Cloud-based solutions like Zahara enable 100% remote access, supporting hybrid and remote work models.
- AP automation enhances compliance by maintaining a clear audit trail for every transaction.
Why Choose Zahara for AP Automation?
Zahara’s accounts payable automation software is designed to simplify and enhance your AP process. Here are some of the standout benefits Zahara offers:
1. Saves Time with OCR Technology
Manual data entry becomes a thing of the past with Zahara. Its intelligent OCR quickly reads and extracts key information from invoices, drastically reducing processing time.
2. Improves Accuracy
Human errors can lead to costly mistakes. Zahara’s automated workflows minimize these errors, giving your team more confidence in their financial data.
3. Supports Smart Spending
With Zahara, you can enforce internal controls effortlessly. Approvals are streamlined, ensuring every purchase aligns with your company’s policies.
4. Promotes Flexible Work
Zahara’s cloud-based platform lets your team process invoices and approvals from anywhere. Whether working from home, in the office, or on the go, your team stays connected and productive.
5. Scales with Your Business
As your business grows, Zahara’s automation software grows with you, handling increased invoice volumes and more complex processes seamlessly.
Why Automate Your Accounts Payable Process?
Switching from a manual to an automated AP process is a game-changer. Here are some compelling reasons to make the move:
- Faster Processing Times: Automated systems significantly speed up the AP cycle, ensuring vendors are paid on time.
- Cost Savings: Reduce operational costs by cutting down on paper, storage, and labour-intensive manual tasks.
- Better Compliance: Automated systems create an audit trail, making it easier to comply with regulations.
- Improved Vendor Relationships: Faster payments and fewer errors foster better supplier relationships.
Get Started with Zahara
Now that you’ve seen the benefits, it’s time to automate your accounts payable process with Zahara. Our intuitive platform is designed to make your life easier, from invoice management to purchase order approvals.
- Visit our AP Automation page to learn more about how Zahara can transform your AP process.
- Check out our blog on streamlining accounts payable.
- Speak with one of our AP automation consultants to see Zahara in action. Book your demo here.
Once you’ve experienced the ease and efficiency of automation, you’ll wonder how you ever managed without it. Let Zahara’s accounts payable automation software unlock the potential of your finance team today.
