Top 5 accounts payable articles on AP technology, trends & best practices
- 20 Dec 2019
- AP Automation
Discover the top 5 most visited accounts payable articles on Untapped during 2019 summarized below, including quick links to read the full article and learn more about accounts payable best practices today.
The top 5 most useful accounts payable KPIs
Nearly all business functions use key performance indicators to measure their performance and contribution to overall business success. And accounts payable should not be any different. The increased usage of AP automation solutions has driven a more data-driven approach to accounts payable operations, making process KPIs available in real-time. AP teams can now track their process performance and compare to industry benchmarks to identify areas of improvement.
PO vs. Non-PO invoices: differences in the invoice approval process
The accounts payable function manages the processing of supplier invoices, all the way from reception of the invoice, through coding and approvals, until the payment is posted in the ERP or financial system and ready for payment. But not all invoices can be managed the same way, and processes need to be optimized for each invoice type. Understanding the differences in the invoice approval process for PO vs. non-PO invoices is critical to achieving a highly streamlined, efficient, and automated AP process.
AI and the future of accounts payable
One of the hottest buzzwords in the majority of business sectors, artificial intelligence (AI), is often used as an umbrella term describing technology that simulates human intelligence. AI solutions have already become readily available in the market for many types of business processes. For accounts payable teams, AI technology can bring impressive benefits such as higher efficiency, more automation, faster processing times, and more powerful data insights.
Accounts payable glossary - key terms for AP professionals
Learning the lingo is the first step toward success in accounts payable. The talk of the trade includes specific terminology every AP professional should know. A glossary of key terms is also useful for the finance team and the C-suite. Reviewing the fundamental vocabulary helps everyone gain a better understanding of the operations and goals of the AP team, as well as the role AP automation solutions play in accomplishing them.
Accounts payable in the age of digital AP transformation
Clearly, the time of digital transformation is now. Businesses are compelled to implement technology systems that dominate the B2B market. But what does digital AP transformation mean for the financial team? Accounts payable software is highlighted by analysts as a critical player in the market for financial digital transformation. The software includes tools from basic bookkeeping to advanced automation.