PiF Technologies

Accounts Payable Automation

Eliminate paper & manual data entry

What is AP Automation?

In technical terms, Accounts Payable automation (AP Automation) refers to the technology used to streamline and automate accounts payable processes, removing manual tasks and providing better visibility and control over important financial data.

AP Automation isn’t just a piece of software you install on your computer, it’s a set of connected tools that work as one unified solution to simplify your organization’s processes.

By implementing AP Automation, your organization can:

Decrease invoice processing costs from as high as $40 per invoice to as low as $1.50 per invoice

Decrease invoice processing time from 23 days to 3 days

Reduce delays in approvals for non-P.O. based invoices

Capture more early payment discounts

Avoid late payment penalties and interest

Improve visibility over cash flow and liabilities

When to implement AP Automation

If your organization experiences any of the following, it's time to invest in an AP Automation solution:

How does Accounts Payable Automation work?

Every organization is different, but the benefit of Accounts Payable Automation is that it can be customized to your exact needs.

Understanding your organization’s current process is the first step in automating each step. 

"The payback on our AP automation initiative was 18 months, tops. We experienced a very fast payback."

Gary Grunewald
Chief Financial Officer, Pine State Trading

Learn more about AP Automation, read our latest blog posts:

Uncategorized

How technology consolidation supports Finance, HR, and IT

The synergy between Human Resources, Finance, and Information Technology is pivotal for organizational success. These interconnected sectors collaborate closely to achieve common objectives, streamline processes, and mitigate risks.

Technology consolidation emerges as a strategic approach to address the unique needs of HR, finance, and IT departments. By streamlining systems and leveraging existing infrastructure like Microsoft 365, organizations can achieve operational efficiency, cost savings, and enhanced security and collaboration. With solutions like Encodian’s plugin integrations for SharePoint, organizations can optimize their existing technology stack without compromising data governance or security.

Read More »
Uncategorized

How to improve upon your existing Microsoft SharePoint Platform

Microsoft SharePoint is a commonly used tool for many businesses, but it has technical limitations. Learning the place of SharePoint within your organization as well as the tools that can help it expand into a seamless document automation system can help you leverage your existing technology investment.

Read More »
Document Management

The Evolution of Document Capture

Explore the transformative journey from manual data entry to the cutting-edge realm of Intelligent Document Processing (IDP). Discover how OCR, machine learning, and natural language processing have revolutionized document capture, propelling businesses into a new era of efficiency and accuracy.

Read More »

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