Accounts Payable (AP) automation software

AP Automation or accounts payable automation is the technology that uses a digital system to reduce manual and repetitive tasks such as data entry and writing checks. With automation companies can submit invoices, manage approvals, and process payments – electronically through a single platform.

AP automation software is a cloud-based system used by accounting teams to automate their accounts payable process. It uses technology like AI (artificial intelligence), and OCR (optical character recognition) to help businesses reduce time-consuming manual accounting processes and streamline their AP process.

Yes. On November 7, 2022, Beanworks rebranded to Quadient Accounts Payable Automation by Beanworks.

Quadient AP Automation will continue to provide — and accelerate — the same capabilities and services that have defined Beanworks from the beginning, while providing the resources to bring automation to more accounting teams around the world.

Implementing an accounts payable automation system can significantly benefit a company's accounting and finance operations thanks to better visibility into spend and improved operational efficiency. It can reduce supplier invoice and vendor invoice processing costs, eliminate manual invoice entry, improve payment reconciliation, eliminate lost invoices, and reduce the lack of visibility that many AP teams experience.

It can also help finance professionals and finance departments implement stronger financial controls, manage their payment processes more efficiently, and create better relationships with suppliers and vendors. By automating manual processes and improving visibility, businesses can better manage their finances and make informed decisions about their operations.

AP automation software empowers accounting teams, helping them work more efficiently and effectively by freeing up resources from manual tasks to focus on more strategic work. By digitizing AP processes such as invoices, expense workflows, vendor payment management, and PO approval workflows, AP automation software also provides greater visibility into the entire accounts payable process, allowing accounting teams to identify inefficiencies and make data-driven decisions.

The cost of AP automation software can vary depending on the specific needs of your business. Typically, the cost is based on the number of invoices processed each month, the level of automation required, and the complexity of the software features. Some AP software solutions charge a flat fee, while others offer pricing based on a per-invoice or per-user basis. It's important to consider the return on investment (ROI) when evaluating the cost of AP automation. It can help businesses save time, reduce errors, and improve accuracy, which can result in cost savings over time. It's important to research different automation solutions and compare pricing to find a solution that fits your business's needs and budget.

Quadient AP Automation offers you an ROI calculator to help you better understand your cost savings by investing in an AP automation solution. Try it out for free, now!

Yes, absolutely! Many AP automation software can integrate seamlessly with ERP systems, helping your accounting teams work smarter, not harder. Quadient AP automation provides integrations with many leading ERP software, including Clubesssential, Jonas Club, Microsoft Dynamic Nav, Microsoft Dynamics GP, NetSuite, Northstar, QuickBooks, Rent Manager, Sage AP, Sage Intacct, and Xero.

Accounts payable automation can help mitigate risk by improving accuracy and transparency in the accounts payable process. AP automation software can provide real-time visibility into the accounts payable process, allowing businesses to identify and address potential risks quickly. It can also help businesses comply with regulations and internal policies by providing audit trails and maintaining accurate records.

Implementing an AP automation solution can result in a range of efficiencies and savings. By automating the accounts payable workflow, businesses can reduce manual data entry and the time it takes to process invoices, resulting in faster payment cycles. AP automation solutions can also reduce errors, which can result in cost savings by avoiding late payment fees and eliminating duplicate payments. Additionally, they can provide real-time visibility into accounts payable processes, allowing businesses to identify inefficiencies and improve their workflows.