What is AP Automation?

What is AP Automation?

AP Automation or Accounts Payable Automation is the process of automating the capture, validation, conversion and release of data from the accounting documents provided by your customers into your accounting system. 

With AP Automation, the exchange of documents can occur in any format including both electronic (email, PDF’s, etc.) and hardcopy printed documents. 

With Accounts Payable Automation, any company dealing with large amounts of invoices can essentially reduce overheads by automating the data capture process. 

How does Accounts Payable Automation work?

Accounts Payable Automation Explainer

The process flow

AP Automation eliminates manual data extraction and conversion which leads to   doubling of data entry. With this advanced technology, AP Automation extracts the document areas that are required for your records and converts them into your accounting systems preferred format.

4 Data Capture Steps

  1. AP Automation provider accepts both hardcopy and digital invoices. 

  2. Once received, invoices are scanned digitally and converted utilising OCR technology.

  3. Once converted to digital equivalent, invoices go through the validation process to check for errors. Alternatively, the provider can also implement a 2 step verification process to ensure accuracy further.

  4. Once the data is ready to go, it will be released to you either via EDI or an upload file. Data delivery is dependent on your current ERP system capabilities.

Benefits of AP Automation

From implementing AP Automation, we have helped many companies add value to their organisation by automatically processing and converting vital accounting information, reducing clerical tasks and eliminating data entry errors. 

Using Accounts Payable Automation, you will see significant savings in time and resources as your manual processes are automated.

Elimination of human errors

No more data entry and extraction of information

Take advantage of on-time payment discounts

Faster data extraction leads to faster payment and on-time payments

Less administrative work

Significantly lesser admin work as there is no more data entry

cash flow

Faster payment cycles ensure that your cash flow is enhanced

Reduced labour

Fewer admin team members required

Enhanced vendor relationships

Vendors are happier with fewer errors and faster payment

Reduced staff

Increased staff satisfaction as they are not completing repetitive tasks

Increased visibility into your payment process

Enhanced overview of your payments as they are taking less time to complete

AP Automation Success Story

Palace Cinemas

“The team at Datatime Services really listened to our challenges and implemented a solution that specifically addressed and solved these issues. The Datatime team proved to be flexible and were available at all times during the implementation to work with us on this important change management project”.

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