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Take control over invoice and bill processing with smart, intuitive, and actionable AP Automation
The Stampli AP
Stampli is the only Accounts Payable Automation (AP Automation) software that centers communications on top of the invoice so that AP collaborates better with approvers, vendors, and anyone involved with purchases to quickly resolve issues and questions, resulting in 5x faster approvals.
Automating accounts payable in this way gives users visibility into bill activities, statuses, and ownership with greater transparency and accountability. Audit-ready histories of approved bills are stored in the Stampli AP Automation system, and invoices can be downloaded anytime.
Our AP Automation software solution uses Artificial Intelligence technology — Billy the Bot — to automate AP invoice processing and learn an organization’s unique patterns to simplify GL-coding, automate approval notifications, identify duplicates and more.
What is AP Automation?
Accounts Payable Automation or AP Automation is a technology system used by accounting teams to automate accounts payable invoice processes. AP Automation software is equipped with intelligent optical character recognition (OCR) technologies which integrates both artificial intelligence (AI) and machine learning (ML) softwares to automate accounts payable invoice and payment processes.
The most common automation for accounts payable takes place with the receipt, capture, and coding of invoices.
Intermediate AP Automation systems will also streamline processes such as purchase order (PO) matching and three-way matching against goods or services delivered. At the intermediate level, you can expect the identification of duplicate invoices, mismatch notifications and other fraud prevention functionality.
Advanced AP Automation systems take it a step further by bridging the communications divide between AP teams and non-accounting colleagues by turning invoices into a collaboration tool to ensure control over the procure-to-pay process.
Best of breed AP Automation systems are rare and they provide end-to-end AP Automation with the ability to pay inside the system or outside the AP Automation system. All the while offering a variety of payment methods which don’t push fees on vendors and they make payment reconciliation easy.
- Intelligent AP Automation
- Real-Time, Accurate Invoice Capture & Coding
- Keep Pace with Change
- Scale for Growth
- Centralized Collaboration
- AP Automation Process Visibility
- Automated Communications
- Audit-Ready History
- Launch in Days, not Months
- Keep Existing Process & Systems
- Easy-To-Use, Intuitive AP Automation Interface
- Anytime, Anywhere, Any Device
Stampli AP Automation Software Capabilities
Segregation of Duties
Enforce internal controls and mitigate fraud by using standard and customizable roles and permissions.
Centrally send, track, view invoice communications and activities directly on top of the invoice.
Smart AP Processing
Automate invoice capture & coding with AI, machine learning, and advanced AP Automation technologies.
Effortlessly transition from paper to virtual trays using the Stampli AP Automation dashboard familiar to any AP processor.
Gain 360-degree visibility into invoice status and metrics using advanced search, reports, and management dashboard.
Pay vendors using any payment systems with the ability to easily update payment informationin Stampli.
Easily integrate Stampli AP Automation into your specific procurement and accounting processes, and any financial system without IT support.
Get started with AP Automation in days — not months — as our Customer Success team guides you through a fast and easy setup process.
Compare AP Automation Software Solutions
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AP Automation Reports
Summer 2021 G2 Report for AP Automation Software
Read why Stampli is named to G2’s Leader Quadrant for AP Automation Software for the eighth consecutive quarters in a row.
Download this report to learn why customers love Stampli and how AP Automation can streamline invoice processes for your organization. In this report, you will receive:
- The G2 Grid® Report for AP Automation Software
- The G2 Momentum Grid® for AP Automation Software
- AP Automation Software Reviews and Satisfaction Ratings
- Implementation Index and ROI for AP Automation Software
- Accounts Payable Automation Product Comparisons
- AP Automation Customer Testimonials
AP Automation Podcast from AP Now
Staying Current in AP or Paying the Cost
Apple Credit Cards
Fixing Accounts Payable’s Broken Communication Channels
Boss Impersonation and Gift Cards
Watch how AP Automation Software Works
See how invoices are processed with AP Automation from Stampli
AP Automation Blogs
There has been a broad shift underway in the accounts payable world in recent years. years. Where once paper invoices were processed strictly by hand, a cumbersome effort that could take weeks, if not months, companies are now opting en masse for AP automation software. It’s easy to see why this happens. Companies that look… read more
When it comes to the accounts payable department, many businesses are still using outdated manual processes. But, they work. Or so you might think. As it turns out, there is a faster, cheaper, and more effective solution — AP automation. Technology is taking over every aspect of running a business, from marketing to payroll and… read more
We are honored to share that Stampli has been named to the G2 Grid Leader Quadrant again for Summer 2020, in the Best AP Automation Software, Invoice Management and Tools for ERP categories. Stampli was also named a High Performer in Billing software. Stampli ranked #1 in the industry in the Usability, Relationship, Implementation and… read more
Less is more… We’ve all heard this maxim plenty of times, but there’s tons of truth when you apply it to your AP department. Think about it for a minute: Accounts payable automation benefits include: Less overhead, more efficiency Less paperwork, more easily accessible digital files Less chance of error, more accuracy Less monotony for… read more
By Ernie Humphrey, CTP Historically, implementing a new accounting or financial system has taken months, if not years. Implementations of the past have given accounting and finance professionals nightmares that last throughout careers. The mere thought of going through an implementation can cause a loss of sleep and seems like the last thing anyone wants… read more
It’s a pain for the vendors, who have to ‘jump through all sorts of hoops’ just to get paid. It’s a pain for the rank-and-file employee who doesn’t want to fuss over lots of financial details that have very little to do with their actual responsibilities at work. And as you are likely well aware,… read more
As a Controller or AP leader which oversees the Accounts Payable function, have you thought much about AP automation? When we say AP Automation, we’re not talking about outsourced coding centers that take 1-2 days to manually code an invoice, or spotty Purchase Order (PO) matching, and the occasional coding error. We’re also not talking… read more
AP automation can help businesses save money, reduce errors, and even lower the risk of losing millions of dollars due to fraud. It seems like a no-brainer, yet the implementation process can feel overwhelming. You might be experiencing push back from managers and executives, or you might be unsure where to start when choosing an… read more
France’s national roadway operator spent a cool €2 billion dollars on new trains — only to discover they didn’t fit at most train stations in the country. Luckily, it was fixable — for the low, low price of €50 million. It’s every business leader’s nightmare; a costly mistake that could have been prevented if someone —… read more
The wonderful world of accounts payable automation… It has more of what you want (accuracy, time savings, departmental efficiency), and less of what you don’t want (duplicate payments, strained vendor relationships, and soul-crushing work). Sounds like a win-win, doesn’t it? Accounts Payable automation (AP automation) uses the power of machines to streamline your accounts payable… read more
In the early years of civilization, clay tablets were used to record the number of items delivered. Essentially ledgers, these clay tablets are some of the earliest examples of writing and accounts payable processes. In modern times, accounts payable became a paper and ledger process. Purchase orders and invoices were handwritten, approvals took days, and… read more
There isn’t enough discussion around automating accounts payable. Perhaps it’s because businesses don’t like to talk about spending money as much as they like to talk about earning it. But if you’re not looking into the vast opportunities within AP automation, you’re missing the boat on a lot of highly innovative processes that are changing… read more
For many businesses, their accounts payable needs haven’t stopped due to the remote reality of working from home during a global epidemic, but they have shifted. We understand it can be challenging to keep business processes moving forward during an epidemic or other force majeure events. If your AP Automation project needs urgent attention or… read more
In general, Accounts Payable automation software (AP Automation) helps automate your manual offline invoice approval process, but when combined with Machine Learning and Artificial Intelligence it becomes even more powerful. At Stampli, we use Machine Learning to learn the way your organization does accounting – and the more you use it the smarter it becomes.… read more
Businesses that haven’t yet modernized their AP functions are stumbling into costly bottlenecks from manual data entry errors, fraud, and lack of controls — to disconnected communication efforts spent tracking down invoice approvals. A good first step for improving the Accounts Payable process is by capturing all invoices or bills into a centralized repository such… read more
AP Automation FAQs
AP Automation from Stampli streamlines the accounts payable invoice approval process by identifying the correct approvers, sending notifications, and automating reminders. In addition, AP Automation enables businesses to keep all documents (Purchase Orders, receiving documents or receipts, and previous invoices) in one place so everyone has what they need to take action.
Yes. With AP Automation from Stampli, the invoice itself becomes a communications channel and historical record where all comments, questions, answers, and invoice inputs are documented in a central and searchable location. Anyone can be invited to the conversation including vendors where they have limited access to what they can see if invited.
AP Automation securely stores all invoice-related documents electronically within the system for up to 7 years. Documents for AP Automation often include vendor files and contracts, W-9s, and invoice history.
Where there is an integration with an ERP or accounting system, documents like Purchase Orders (POs) allow for easy access to adjustments and real-time receiving information of POs from your accounting system.
Yes. The Stampli AP Automation has built-in advanced technologies such as Artificial Intelligence (AI) to identify duplicate invoices. Stampli’s AI-helper, Billy the Bot performs duplicate invoice checks along the way. Billy the Bot checks from the time an invoice is uploaded, to when it’s registered, and even when communicating with integrated systems. When there is a duplicate or potential duplicate invoice, Stampli will present a warning message at the top of the invoice.
In short, yes. AP Automation from Stampli provides controls in more ways imaginable to mitigate fraud and improve security over your financials. An example of control for the invoice approval process—is by setting approval limits for a specific or all users. Or requiring an additional approver when a limit is reached or invoice amount is changed by AP. Reporting functionality tools also provide full control and visibility into suspicious activity by AP staff or management.
With Stampli, the AP Automation software digitally captures invoice data by utilizing technologies like advanced Optical Character Recognition (OCR) and Artificial Intelligence (AI) to make invoice processing fast and easy. Stampli’s very own, Billy the Bot, can manage approval identification and auto-populates fields based on your specific accounting codes which includes any custom fields you might have.
Vendors can interact with AP Automation in a few ways. They can send invoices or bills directly into your Stampli account. Then a Vendor Portal is available for all customers that enable this feature through their system settings. The Stampli Vendor Portal must be enabled by the Stampli customer and is available by invitation only.
The benefit of the Stampli Vendor Portal is that it helps customers reduce the communications overhead by providing an online portal to their vendors where the status of an invoice can be accessed 24/7.
Any external users including vendors can be asked a question on top if the invoice in Stampli as an external contact. As an external contact, they can only view the invoice image and a section to respond to the specific question asked.
Stampli AP Automation offers API integrations to connect directly with a company’s accounting, financial, or ERP system. The Stampli API integration ensures up-to-date and constant data flow between systems. Stampli also offers a file integration for systems without an API integration.
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