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:

AP Automation

The Future of Accounting Automation

While the role of accounting hasn’t changed in decades, the technology available to finance teams has. Rather than stay stuck in the past, organizational leaders have a massive incentive to invest in technologies such as Artificial Intelligence and Machine Learning to help their teams evolve.

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AP Automation

Meet the AP Automation of the future

Meet the AP Automation of the future. Manually processing invoices is so 1999. Intelligent Document Processing – Powered by Artificial Intelligence Process invoices like never before Automated Document Extraction allows you to index faster using the power of AI and

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Document Management

How to use Custom Columns to create saved searches in DocStar

Streamlining document management is crucial for your organization, and DocStar offers an efficient solution for storing and retrieving documents seamlessly. While using DocStar, certain tasks may not be part of your daily routine but are essential on occasion. Whether you’re

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Distribution

Distribution: “How can I get started with AI?”

Distributors are at an inflection point and are primed to invest in Artificial Intelligence and other technologies to simplify their operations. Understand the value of automation for distributors as well as ideal use cases for a solution.

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Document Management

How to add pages to a document in DocStar

Efficient document handling is important to your organization and by utilizing document management with DocStar, you have the ability to simply store and retrieve any document you need. When working within DocStar – there are certain activities that you may

Read More »

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