Nanonets

AUGUST 21, 2023

B2B payment automation involves everything from the automation of capturing and processing invoices to making payments to vendors and reconciling those payments in your books. So, let’s look at how these payment automation solutions automate different parts of the B2B payment process.

Invoice Processing 52

Invoice Processing Reconciling Invoicing Data Entry 52

AvidXchange

JULY 21, 2021

You definitely want to track this because it’s highly indicative of the efficiency of your AP process. Here’s the rub: The average cost per invoice can vary depending on costs included, or not, in the calculation. Other variables include the industry, number of invoices processed and whether AP automation or AP manual processes.

Accounts Payable 52

Accounts Payable Accounts Payable AP Invoicing 52

Nanonets

FEBRUARY 26, 2024

Lost Productivity:  The average invoice processing time in a manual environment can reach as high as 45 days. 💡 According to a  2018 Goldman Sachs report , North American B2B businesses spend around $187 billion annually on AP processing, with labor alone accounting for over 90% of direct costs.

Accounts Payable 52

Accounts Payable Accounts Payable AP Data Entry 52

Nanonets

APRIL 17, 2023

Schedule a Demo Flow by Nanonets: Automate your Account Payable Process Benefits of AP automation Automation is being seen as the only way toward improved services, and efficiency in financial processes. These costs, when added up, can significantly impact the overall cost-effectiveness of the AP process.

AP 52

AP Accounts Payable Accounts Payable Purchase Order 52