Accounts payable automation is a game-changer for businesses looking to streamline their payment processes and improve efficiency. With manual payment methods becoming increasingly outdated and time-consuming, organisations must embrace automation to stay ahead of the competition.
Modulr's Accounts Payable Automation software offers a comprehensive solution to this problem. Our platform provides a supercharged operating account that syncs invoices and payroll from accounting software, allowing users to make bulk payments in just a few clicks. This not only eliminates the need for manual work but also significantly reduces the risk of errors and fraud, providing a secure financial operation environment.
Key features of Accounts Payable Automation software:
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Multi-step approval workflows: Set up customised approval processes for payment authorisation.
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Bulk payments in multiple currencies: Easily make payments in different currencies, saving valuable time and reducing complexity.
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Scheduled payments: Plan and schedule payments in advance, ensuring timely and accurate transactions.
Accounts Payable Automation Features
Let's dive deeper into the features that make Modulr AP a powerful tool for businesses and accountants looking to improve their efficiency in managing payments.
Supercharged operating account
Modulr AP offers a supercharged operating account that seamlessly syncs invoices and payroll from your existing accounting software. This integration eliminates the need for manual work in managing payments, saving you valuable time and reducing the risk of errors. By automating the payment process, Modulr AP ensures accurate and timely payments, allowing you to focus on other essential tasks.
Invoice management
Our AI-powered document processing automates the creation of Purchase Orders (PO), matching them with invoices, and guiding them through custom approval workflows. The process starts with seamless PO creation by automatically extracting and ensuring the accuracy of key data. Once the PO is generated, it is matched with the corresponding invoice, reducing manual work and minimising errors. Customisable approval workflows then ensure the invoice progresses through the necessary stages, tailored to your specific needs. This streamlined approach saves time and enhances accuracy and compliance, making invoice management faster and more efficient.
Bulk payments in multiple currencies
Handling international transactions can be a complex and time-consuming process. With Modulr AP, bulk payments in multiple currencies are just a few clicks away. This feature enhances efficiency and streamlines the payment process for businesses dealing with suppliers and vendors from different countries. Automating these payments saves you time and effort, allowing you to allocate resources to other vital aspects of your business.
Multi-Step Approval Workflows
Approval processes for payments can often be lengthy and prone to delays. Modulr AP addresses this challenge by offering multi-step approval workflows. This feature streamlines the approval process, ensuring control and accuracy in the payment authorisation. Set up customised approval workflows that align with your organisation's hierarchy, eliminating bottlenecks and delays. By providing a clear and structured approval process, Modulr AP improves efficiency and reduces the risk of errors or unauthorised payments.
Scheduled Payments
Manually scheduling payments can be tedious and time-consuming. Modulr's scheduled payments feature automates this process, and you can easily set up recurring payments for regular expenses, such as rent or utilities. This automation ensures your payments are made on time, avoiding late fees and maintaining strong supplier relationships.
Our Accounts Payable Automation features are built to simplify and streamline your payment processes. By eliminating manual work, reducing the risk of errors, and enhancing efficiency, Modulr allows you to focus on growing your business.
Speak to a payments specialist to unlock the benefits of Modulr AP.
