Chapter Five: How Automating Accounts Payable Increases Security and Control

It’s totally understandable that you’ll want to maintain control and security when you automate your AP process. And you’ll be able to that in a number of different ways.

Control who approves invoices

You’ll be able to control who within your company approves invoices. For instance, if your CEO has to approve any invoices above $1,000, AP automation software makes sure the invoices get sent to that executive. Whatever rules you may have for approving invoices, AP automation can follow them.

Gain better control over exceptions

“Exceptions” come up from time-to-time when processing payments and invoices. These are unusual payment or invoice situations, such as numerical discrepancies, that need special attention and cannot be handled routinely.

AP software helps identify these exceptions, thereby saving you time and money. You’ll gain more control of the number of exceptions you have to handle and the speed you can process them using automated processes.

Gain visibility into the full process

With AP automation, you’ll have increased visibility into the status of payments and invoices. You’ll also be able to trace each of the steps. For example, if you want to check the amount of a payment and when it was sent, you can do that from anywhere with an Internet connection.