The adoption of epayables and ePayables epayables automation can transform your AP processes, offering benefits like efficiency, improved security, and cost savings. By leveraging epayables software, finance teams can achieve faster processing times, improved visibility, and stronger supplier relationships. Some financial services companies use the term epayables to refer to their virtual credit card offerings.
Financial
Mitigate RiskAn epayables payment solution enables vendors to process everything via a safe and secure platform. This reduces the possibility of any lost or stolen checks falling into the wrong hands. The supplier will then process the payment by drawing down the amount of invoices paid and charging the card number. The vendor receives notice that the virtual card now holds a $1,000 balance and is ready to be processed.
Budget management
Solve current challenges and meet evolving needs for your Mental Health Billing organization with Truist Commercial Card solutions. Ardent’s “AP Metrics that Matter in 2024” report positions Accounts Payable at the forefront of an AI-driven revolution that many expect will solidify the department’s role as a strategic asset within modern enterprises. Even so, the growth in ePayables users in six years also shows healthy interest among CFOs in this type of B2B solution, especially when speed and security are top priorities. This latest in the 19-year study series found that 73% of AP teams surveyed now have an AP strategy.
AP cards
Xero may lack advanced features like multi-entity management and comprehensive compliance tools, which are crucial for larger organizations. Streamline your operations, enhance your working capital, and protect your business against fraud. See how this solution creates a seamless payment experience for administrators and suppliers. For two decades, Ardent Partners has tracked the evolution of accounts payable from back-office function to strategic financial powerhouse. As was the case with the Ardent Partners 2022 State of ePayables report, AP’s biggest hurdles are almost a one-for-one match with AP’s strategic priorities. It feels like the difference this year is the recognition that technology solutions and a broader digitization strategy are the quickest way to resolve the challenges.
Accounts Payable Automation with one of the largest B2B networks
By replacing manual, fragmented workflows with secure, automated transactions, finance teams http://viewpointcafe.com/bottom-line-bookkeeping-service-llc-san-antonio/ can unlock measurable improvements in cost, efficiency, and control. Below are the core benefits of ePayables that make them a strategic investment for AP and treasury leaders. The top accounts payable automation software enhances operational efficiency, reduces overhead costs, and ensures compliance with payment deadlines, helping your business save money and resources. The top accounts payable automation software eliminates the need for manual updates and ensures data consistency across platforms.
Improved supplier relationships
According to a 2021 survey of AP departments by Stampli, 61% of companies make virtual card payments, and 63% have a program to convert suppliers to accept virtual payments. Automated systems handle repetitive tasks such as invoice approval, data entry, and payment processing, freeing up valuable time for AP professionals to focus on more strategic activities. This not only helps speed up the payment cycle but can also minimize the risk of human error. Adopting ePayables often means rethinking existing payment policies and internal controls. Finance teams must ensure that digital workflows still uphold segregation of duties, approval hierarchies, and data security standards, particularly when handling virtual card data.
Finding the best accounts payable automation software in 2025 can revolutionize how you manage financial operations. With streamlined processes and real-time tracking, the best AP automation software helps your business reduce manual errors, increase transparency, and save valuable time. CFOs have expressed increased interest in adopting electronic payment methods, with 47% saying that increased efficiency was driving their decision to move to automated payment solutions.
- This capability in the top accounts payable automation software enhances efficiency, saves time, and reduces errors, empowering your business to manage accounts payable seamlessly and with greater confidence.
- Simplify Administration Card payments are faster and easier to process than paper checks.
- This feature ensures you can monitor payment status at any time, making it easy to track the progress of payments.
- Control your electronic payment timing to improve finances and reduce the need for checks.
- Its features may feel limited for businesses requiring a more comprehensive accounts payable automation software.
- Effective document storage and retrieval are crucial in the best accounts payable automation software.
You can choose to notify vendors of Stampli Card details via a remittance advice email or through the payment banner in the Stampli Vendor Portal. Digital payments means that there are no physical items to steal, easily traceable digital audit trails, and the ability to expire once the payment has been made to the recipient. The entire transaction process is more secure by nature, decreasing the chance of fraudulent payments. Fortunately, ePayables can transform how your business handles accounts payable, replacing outdated processes like check payments and ACH with faster, more efficient workflows. One example of this is straight-through processing (STP) which requires no action from the supplier. Simplify Administration Card payments are faster and easier to process than paper checks.
