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Automation is reshaping the way companies manage their financial operations, especially in accountspayable (AP). Understanding how APautomation works and how it streamlines AP processes is vital to keeping your company ahead of the curve in a rapidly evolving business finance landscape.
In this article, you’ll learn: What accountspayableautomation is. 11 different benefits of automating this process. The best tools to automate A/P. How to specifically automate A/P. What is AccountsPayable Workflow Automation. 11 Benefits to AccountsPayable Workflow Automation.
India-based accountspayableautomation company Finly has announced new funding as it plans to expand its B2B product offering, reports in YourStory said Monday (Dec. We believe the team has built a fantastic SaaS product for the global market,” said Adith Podhar, Gemba Capital managing partner.
Consider the fact that payroll automation is done by 49 percent of companies, and that only 37 percent of U.S. businesses automate employee expensemanagement. What’s behind the yawning chasm, then, where APautomation gets such short shrift? Frustration or complacency? Perhaps a bit of both.
The right tools like an APautomation solution, will reduce duplicate payments , leading to better vendor relationships and more efficiency across the AP team. Reduce duplicate payments Duplicate payments are a costly and time-consuming line item for businesses.
Equity investments reigned this week, thanks to backing for accountspayable (AP) automation firm MineralTree and treasury management company Kyriba , but it was the logistics market that saw the largest venture capital round — and secured another unicorn for the B2B startup space. MineralTree. Existing backers.406
But the largest venture capital funding round went to an accountspayableautomation firm in the U.S. Travel ExpenseManagement. Corporate travel and expensemanagement startup Baoku Online, based in China, secured Series A funding , the firm said Monday (Nov. with an $18 million investment.
Innovation in the accountspayable (AP) space continues to expand, with FinTechs looking to capture their piece of a growing market driven by businesses’ desire to digitize their operations. But corporate payers are not the only entities in charge of driving adoption of APautomation technologies.
Plus, said Jandrell, these firms increasingly require the capability to manage processes before and after purchases are made. Historically, that has meant disparate, siloed platforms for expensemanagement, contract management, accountspayableautomation and more.
It paved the way for firms to embrace mobile in travel and expensemanagement, with smartphones able to more accurately track employee spend while on the go. What’s next for enterprise mobility could be anyone’s guess, but some analysts have made their prediction: accountspayable. Moving Forward .
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