Accounts Payable (AP) Automation happens when an organization leverages technology or other service providers to electronically process, store and report on accounting documents and data, such as invoices, T&E, financial reports, etc. Automation of AP can include receiving and opening mail with machines, scanning to digitize images, AI data extraction, machine learning, automated business rules, web-based portals to manage processed documents, integrations with systems of record, payments, reporting and other tools used with the intent to reduce the amount of time and cost of managing each transaction.
