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Thirty-six percent of survey respondents are focusing their investments on automation, including accounts payable (AP) solutions that replace manual back-office processes like invoiceprocessing and bill pay that are critical to operations. appeared first on AvidXchange.
Investing in automation technology, such as accounts payable (AP) software, helps AP staff reduce manual tasks like invoiceprocessing and bill pay. AP automation also allows professionals to focus on more strategic work like analyzing data, reducing errors and identifying growth opportunities.
Automated AP solutions are especially helpful to real estate firms because of the industry’s notoriously complex, time-consuming APprocesses. From there, invoices travel to the corporate office for approvals and payment processing, which adds additional time to the already lengthy process. “In
Organizations that invest in AP automation often have an advantage over those that still rely on cumbersome, time-intensive ways of doing business. For more information about how automation can fortify your organization, download our whitepaper, “How Middle Market Finance Teams are Preparing for a Recession.”
While the construction industry has never been an early adopter of technology, it’s increasingly turning to innovation to modernize and improve workflows — from using drones for better visibility to cloud-based accounts payable (AP) tools for better processes. Automation, specifically, is top of mind for many.
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