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Accountspayable (AP) refers to the series of steps that companies take to pay their bills. It requires the safe handling and recording of funds transferring from the company’s bank account to suppliers and vendors. Table of Contents FirstHeading What is AP automation? Using AP automation software.
While that may be true, in the realestate sector, suppliers are considered such valuable partners that late payments are avoided at all costs, said Jennifer Coolidge, founder and president of realestateaccountspayable (AP) solution provider Nexus.
The platform also offers numerous benefits for your core financial functions, including accountspayable, accounts receivable, cash management, general ledger, order management and purchasing. RealEstate & Construction : Keeping an eye on expenses is critical in this industry.
Recent months have seen corporate payment heavyweights investing further into encouraging that change, often promoting the use of virtual cards, driving momentum for a payment technology that can tackle multiple points of friction in accountspayable (AP) at once. ”
By its very nature, accountspayable (AP) is a cost center: It’s where money leaves the enterprise, after all. However, as with so many back-office enterprise functions, AP is now shifting its reputation as one that can add value to businesses. “It’s about having a strong business case internally.”
Trusted by thousands of contractors, developers, and property managers for many years, Sage 300 Construction and RealEstate (CRE) software users, formerly Timberline, may require a more robust solution. Now more than ever, companies must find ways to streamline their operations and stay competitive.
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