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Accounts Payable (AP) processes are an important function for every business, overseeing the outgoingpayments to suppliers and vendors. billion in 2021 to USD 7.5 The worldwide AP automation market is forecasted to grow from US$2.6 billion by 2030 at a CAGR of 12.5%.
At its core, AP automation involves using technology to streamline and optimize the process of managing outgoingpayments to suppliers and vendors. This digital transformation of the AP process is not just a shift in how payments are processed, but a fundamental change in how businesses manage their financial operations.
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