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What is Accounts Payable (AP) Automation?

Nanonets

Lost Productivity: The average invoice processing time in a manual environment can reach as high as 45 days. Looking to integrate AI into your AP function? Schedule a Demo Now let's see how AP Automation streamlines the accounts payable process and solves these problems. Looking to add AI to your Accounting process?

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Payments Automation: Everything You Need to Know

Payment Savvy

Payment automation allows for faster payment processing and invoicing, which can help improve cash flow and reduce the risk of late payments. Payment automation can provide increased security measures, such as data encryption and user authentication, which can help prevent fraud and unauthorized access to financial data.

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Paperless accounts payable: An implementation guide

Nanonets

Let's say you process 10,000 invoices monthly at $10 each. Now consider this: roughly a third of businesses surveyed were able to reduce invoice processing costs even more: a whopping 50%. How AI and OCR digitizes AP documents accurately But that's not all. That's roughly $300,000 saved annually.