Accounts Payable Automation Software

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

We’re entering the season of reflection and gratitude, and there’s plenty to be grateful for this year at Stampli. As such, we want to thank our customers’ for their honest reviews, as they have positioned Stampli as Leader in G2’s Grid for AP Automation for the tenth consecutive quarter. We love solving for our customer’s… read more

By Ernie Humphrey, CTP, Treasury Webinars In my last blog, I examined how companies are investing in AP automation. In this blog I will leverage the results of the AP Automation: The How, Why and ROI survey to offer insight into why companies of all sizes across a diversity of industries are investing in AP Automation… read more

We’re thrilled to announce that Stampli has been recognized as the “Best Automation & Invoice Management Software” in the 2021 FinTech Awards by Wealth & Finance Magazine.   The 2021 FinTech Awards honors excellence in the global FinTech industry for companies delivering game-changing financial innovations that transform the way businesses manage finances. This award comes in… 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When it comes to the accounts payable department, many businesses are still using outdated manual processes.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

Seeing is believing.  We’ve all heard this maxim hundreds of times, but it rings especially true when it comes to accounts payable automation.  At Stampli, we’ve written a lot of content around the benefits of AP automation, the ROI your organization can expect, and even how to work with the management team on implementation.  While… read more

Does your accounts payable department struggle with any of the following challenges? Lost invoices and other important documents?Approval bottlenecks?Understaffing?Sketchy purchase orders?Duplicate invoices or documents?Employees not following expense claims policies?Late invoice payments that impact operations?  Mountains of paperwork?Invoices and other documents in a multitude of different formats?Tedious, error-prone manual data entry?Cash flow problems?Wild scrambles to get… read more

Facilitates digital transformation by reducing physical office space needs by 3X Eliminating manual processes is getting easier for businesses with the rise in digitization of offices and use of cloud computing. Many businesses are looking for automation to eliminate manual tasks, which can lead to costly errors, and streamline costs in order to position the… read more

Many companies lack end-to-end accounts payable integration, whether they know it or not. Sure, they might have purchased a top-of-the-line enterprise resource planning system in recent years, with cloud computing making ERPs much easier for companies to implement. Perhaps a business has implemented invoice scanning with OCR, or optical character recognition software – a low-hanging… read more

Family Allergy & Asthma is a group of board-certified allergy and asthma specialists with offices in Kentucky, Indiana, Ohio, and Tennessee. Its 30+ board-certified allergists and physicians are still serving thousands of patients during the COVID-19 pandemic via telemedicine, which its small IT team was able to set up and launch quickly. In fact, it… read more

By Ernie Humphrey, CTP, Treasury Webinars AP automation demanded the attention of Controllers and CFOs in 2020 as working in a remote environment exposed and magnified weaknesses in accounts payable processes and systems at companies of all sizes and across all industries. That is why I partnered with Stampli to conduct the AP Automation: The… read more

Reduces a Net 45 to a Net 20 day payment schedule For businesses like a nationwide retailer that has valuable inventory in its stores to secure, working with multiple security vendors in each location or geography can be a management nightmare. That’s where Nationwide Security Service shines, as it’s a one-stop shop that provides complete… read more

Small businesses, mid-size firms, and enterprise-level companies have something in common: All can need more time than they should from when they receive an invoice to when they pay it. As Stampli and Treasury Webinars found in a 2021 survey report, “AP Today: Bottlenecks, Benchmarks & Best Practices” small businesses need an average of 15 days,… 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

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

By Ernie Humphrey, CTP Accounts payable, what’s with all the hype? No one paid much attention to accounts payable beyond accounts payable professionals for many years, even decades, until just a few years ago. Then, boom, an explosion of AP automation companies, and webinars, conferences and associations all dedicated to excellence in accounts payable. Is… 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

“In every field of human endeavor, he or she that is first must perpetually live in the white glare of publicity.”  This is the first line from a famous print ad in 1915 from the General Motors division Cadillac titled “The Penalty of Leadership,” and it’s worth reading in its entirety.  At this moment, every… 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

When it comes to automation, most people are in one of two camps.  First Camp Some people fear that automation will replace jobs, reduce quality, and disrupt their way of life.  Second Camp The other cohort takes a strategic approach by seeing automation as a tool to replace tasks, not jobs, and is rewarded with… 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

Anyone who’s worked in or managed an accounts payable (AP) department might have had an “Ah ha!” moment at some point with AP automation. After all, AP automation can relieve many accounts payable pain points like cumbersome invoice data entry, duplicate payments, and clunky approval processes. Getting upper management to see the need for AP… read more

Times are rarely easy for small businesses. Whether it’s an independent tax preparer, a mom-and-pop automotive business, or any of the millions of other small businesses in the U.S., there’s always another customer to help or administrative task to attend to. In such an environment, accounts payable automation might often be the last thing on… read more

We’ve all been there. Using a software that doesn’t really fit with how we work during our day. This software might be just a little too this. That one just a little too that. None are really just right. It’s a Goldilocks challenge. But teams and companies come in all sizes and shapes. And, as… read more

Excessive paper can plague accounts payable departments. Take a mid-size or enterprise level company that receives more than 1,000 invoices a month, or even a small business with a substantial number of vendors and paper use can easily multiply during processing. Invoices should get grouped with purchase orders and receipt reports, at a minimum and… read more

When it comes to accounts payable automation, the facts do not support massive layoffs, and that’s what we’re going to dive into today. By the way, we’ve written a few other posts about how automation is likely to affect the accounts payable industry you might also want to check out:  Will Accounting & AP Be Automated… 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

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