Accounts Payables (AP) automation, or invoice workflow automation, is a general term often used to encompass a complex back-office process. For companies with tens of thousands of invoices a year, a large supplier base, and a complicated business structure, an efficient, automated AP state is difficult to imagine, much less attempt. These companies have numerous and complicated requirements for properly conducting invoice management, and many forego automating AP because they believe they will not find the right solution for their AP needs. This means they also end up leaving millions of dollars’ worth of process improvement-related savings on the table.
Invoice Workflow Automation Software
Fortunately, there is an AP software available that is flexible and powerful enough to meet the needs of even the most complicated invoice management lifecycles. Invoice workflow automation (IWA) software is built to digitally manage an invoice throughout its lifecycle while offering flexibility and visibility to AP departments. PayStream believes that with the proper knowledge of IWA software, as well as the proper automation preparation techniques, any company can achieve efficient AP.
This report includes:
• Invoice Management Trends Among Buying Organizations
• Best Practices for Preparing for Invoice Management Automation
• Features and Functionality of IWA Software