AP automation solutions, powered by AI, have enormous potential to rescue accounting teams from manual work. This is why over the past decade, accounts payable (AP) teams have led the charge within finance to take advantage of RPA, AI and ML technologies to automate the tedious manual tasks associated with processing supplier invoices. The early adoption of AI technology to automate accounts payable processes helped it achieve extremely high invoice auto-posting rates, faster invoice approvals, and process large volumes of invoices quickly and accurately. The positive return on investment AP realized from automation quickly paved the way for other areas of finance to adopt AI-enabled processes as well.
