Journey from Manual Accounts Payable to Automation

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73% of Accounts Payable Professionals Relying on Manual Process Face Slow Processing & Late Payment – Source
The accounts payable process across industries is still manual, paper-based. As a result, businesses are prone to missing invoices, delay in vendor reconciliation, vendor management, maintaining records, late payments, fraud, duplications, and more.
Let’s have a deeper understanding of how the accounts payable workflow would be when done manually.
It’s a reality. Let’s face it. Accounts Payables continue to be manual, tedious, and mundane for most businesses across diverse industries. However, accounts payable automation is the key to optimizing the complete accounts payable workflow and stay on top of the game.
Transformation from manual to automated accounts payable is no longer a “nice to have” strategic move, rather, it’s a “must have” for all future-focused firms. The Accounts Payable automation market is expected to reach up to USD 2 billion by 2029. Mention not, the need of transformation from manual accounts payable process to automation is different across industries. And guess what?
Here, you have the opportunity to dive deep into accounts payable automation journey of businesses across industries. So, keep scrolling to find out more about some real case studies.