When business payment operations are managed intelligently, keeping proper accounting will be an easily achievable goal. For example, an automated accounts payable process is possible with the help of software solutions such as those of Smart Soft – easy to integrate, use and improvement. With the help of this technology, it is very easy to manage the financial flow which is defined as a complex process. When payments to suppliers (and other parties) are made on time, the good reputation of the company is strengthened and profitability becomes even greater.

Why choose automated accounts payable software?

AP (account payable) is not just another digital tool, but an opportunity to completely streamline the process related to payments. So that there are no duplicate or late payments, it is good not to rely only on manual work. The Smart Soft software for automating the processes related to payments is a suitable solution with a revolutionary character that is preferred by more and more companies which have a greater or lesser scope of activity. Here are its main advantages:

• automated processing of amounts due – optimizing the financial flow is one of the main goals of serious companies, which must meet deadlines and avoid mistakes when paying sums to contractors and partners. In order to fully predict this process, it is important not to rely on the human factor only – if in the past this was a working method, today it is considered unsafe and easy to manipulate. With the Smart Soft’s software, payments will be tracked end-to-end and errors will be rare;
• intelligent validation – the future is in modern technologies that become more intuitive and broad-spectrum every year. This is fully proven by Smar Soft’s software, which is scalable and can even perform validation of documents related to payments – this function allows the comparison of the financial documents of the company with other documents such as public procurement, goods receipts etc.;
• accurate tracking of financial information – when accounts payable are processed using a software tool, every single step will be much more precisely executed, and errors related to amounts due or double payments will be very rare. Also, it is important to say that very high efficiency is achieved with this type of financial information management that is defined as an error-prone process;
• no more pending invoices for payment – when processing invoices manually, it often happens that some of them to be forgotten. This subsequently has a negative effect on the company’s reputation that is directly related to financial operations. Non-compliance with payment deadlines will no longer be among the critical points of business – Smart Soft’s software solutions for automating financial operations will contribute to efficiency and streamlining of work flow;
• analysis of financial information and preparation of detailed financial statements – when we have detailed information related to how the business is developing, we will be able to have a detailed business analysis. In this way we will also achieve higher predictability which will benefit the company in many ways.

We live in times when artificial intelligence and digital progress “haunt” us at every step – work, everyday life, communication, entertainment, etc. And what else is left for us but to take advantage of their advantages?

Smart Soft software solutions, for example, help the business to develop and improve its position compared to its competitors – something very difficult to achieve, if we do not integrate into the corporate structures technological solutions such as the tool for the automated accounts payable process.

What steps does the process involve?

Automatic processing of accounts payable is a multi-step process. Artificial intelligence and machine learning are the two starting points on which the automated accounts payable process is based. Thanks to these two exclusive technologies, automatic management of the information flow and finances is possible – software development is constantly being studied and improved. These same improvements happen thanks to user feedback which plays the role of corrective – a leading method of perfecting modern technologies.

Let’s not forget OCR – optical character recognition that captures key data and transforms scanned documents into electronic format. When the document is already in PDF version, the information from it becomes much easier to extract and analyze. Smart Soft offers users a similar product, which can be used not only for processing invoices, but also for other documents such as forms, invoices, insurance claims, etc.

Top advantages of technology

So far it has become clear that the technology for automated accounts payable is a must-have for any growing business that wants to optimize work processes as much as possible. Among the top advantages of the software is its easy integration with other software, the simple principle of operation (no special training is required to use it), its ability to self-improve and its scalability. If you want exactly that for your company, choose Smart Soft and the technological products that the company offers to users.