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New To NetSuite | SuiteBanking: What is Accounts Payable Automation
Some companies are still using manual and paper-based A/P processes. As the number of Invoices grows and manual validation and approval steps pile up, businesses face difficulties in dealing with paper Invoices and matching them with Purchase Orders (POs) and General Ledger (GL) codes. Without automation, bigger challenges arise in areas like financial closing accruals, spending visibility, and cashflow management.
AP Automation technology is a game-changer when it comes to handling financial processes as it aims to reform the back-end financial process by providing a faster, more efficient, and more precise way of handling tasks. With AP Automation, you'll not only improve your relationships with suppliers and partners but also save time and money. Also, it reduces days sales outstanding (DSO), leading to improved cash flow.
