What is AP automation?

[TheodoreHill]

Accounts payable (AP) automation software empowers businesses by reducing manual tasks and freeing up cash flow. You can submit invoices, manage approvals and process payments through a single platform with swift approvals and better visibility and control over important financial processes and data.

Despite advancements in technology, 52% of AP teams still spend more than 10 hours a week processing invoices manually, according to the Institute of Financial Operations and Leadership. This approach is time-consuming, labor-intensive, and prone to errors--making it increasingly unsustainable as businesses scale. Automating AP processes can reduce costs, improve accuracy, and free up staff to focus on higher-value work.

[AlexTaylor]

Our CFO required a full audit trail for every invoice before we would consider any accounts payable software. Precoro records every action taken on every document: who submitted it, who approved it, when, and what changed. When our external auditors requested documentation during their last audit, we received all the data from Precoro in minutes. This kind of traceability is a must for us.

[FrankJScott]

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