Financial Process Automation
Automate accounts payable invoicing so the most manual tasks are completed instantly and efficiently without you ever having to lift a finger. Book DemoNot only does automating financial tasks save valuable hours compared to manual accounting, but it can also protect your data, limit errors, and provide greater insight into the overall health of your business. AP automation from Nustream allows companies to receive invoices, manage approvals and process payments automatically.
How Does AP Automation Work?
AP Automation software is equipped with intelligent optical character recognition (OCR) technologies which integrates both artificial intelligence (AI) and machine learning (ML) software’s to automate accounts payable invoice and payment processes.
Automation for accounts payable takes place in five stages:
How accounts payable automation benefits business owners
Time Savings
AP Automation software makes the invoice processing and approval faster and more efficient by eliminating many of the manual stages of invoice processing. Businesses with an ever-increasing volume of invoices requiring processing every day would benefit from Nustreams Financial Process Automation Solution by reducing turnaround time to just minutes.
Improve Efficiency
Automation streamlines the invoicing and payment process, improving efficiency by reducing the number of manual mistakes, and reducing the time wasted between the transition of physical to digital documents. Our solution facilitates all of the formats that your business receives data, whether that’s by paper, pdf or spreadsheet.
Reduce Costs
Automation helps reduce staff costs by reducing time intensive manual data entry that is involved in the process. Besides this, AP automation can also reduce the costs involved in document storage, postage, and invoice production.
Improve Cash Flow
Our solution helps businesses to improve cash flow management by speeding up financial close and audit procedures. Forecasting can be performed as soon as financial documents are received into the business.
Improve Supplier Relationships
Our AP automation solution will allow you to provide consistently accurate, on-time supplier payments and help your business to resolve any disputes rapidly.
Improve Compliance
Automating AP processes makes the process completely transparent, so that the risks of fraud can be tracked and prevented. Duplicate invoices will be flagged to your AP employees along with any additional charges and suspicious activity.
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