Managing accounts payable (AP) manually is a labor-intensive process that can lead to delays, errors, and higher operational costs. Businesses that rely on outdated invoice processing methods spend countless hours on data entry, invoice approvals, and payment reconciliation, diverting valuable time away from strategic financial planning.
With NetSuite’s AP Automation, companies can save time and money by eliminating manual processes, reducing costs, and improving efficiency by leveraging optical character recognition (OCR) and artificial intelligence (AI). This automated solution accelerates invoice processing, improves cash flow visibility, and ensures timely and accurate payments, ultimately saving time and money.
The Problem with Manual AP Processes
Traditional AP workflows require finance teams to manually:
Enter invoice details into the system
Match invoices with purchase orders
Route invoices for approvals
Process payments through multiple platforms
Keep track of vendor payment schedules
This outdated method is not only time-consuming but also prone to:
❌ Human errors – Misentered data, duplicate invoices, and incorrect amounts
❌ Delayed payments – Leading to missed discounts and late payment penalties
❌ Fraud risk – Limited visibility and poor controls over invoice processing
❌ High labor costs – Finance teams spending too much time on admin tasks
How NetSuite’s AP Automation Works
NetSuite’s AP Automation is designed to streamline invoice processing and payment workflows. Here’s how it works:
1️⃣ AI-Driven OCR Technology – Automatically scans and captures invoice data from email attachments, reducing manual data entry.
2️⃣ Automated PO Matching – Compares invoices with purchase orders and receipts to ensure accuracy.
3️⃣ Approval Workflow Automation – Routes invoices to the appropriate team members for fast approvals.
4️⃣ Seamless Payment Processing – Allows businesses to pay vendors directly via ACH, virtual cards, or checks from within NetSuite.
5️⃣ Real-Time Financial Visibility – Provides dashboards and reports for better cash flow management and tracking outstanding liabilities.
How NetSuite’s AP Automation Saves Time
1. Eliminates Manual Data Entry
✅ OCR technology extracts key invoice details automatically, eliminating the need for finance teams to manually input data.
✅ AI learns from previous invoices to recognize vendor patterns and reduce processing time.
✅ Fewer errors mean less time spent correcting mistakes.
2. Faster Invoice Approvals
✅ Automated approval workflows reduce invoice processing time from days to just hours.
✅ Customizable routing rules ensure the right people approve invoices quickly.
✅ Approvals can be managed on mobile devices, reducing bottlenecks.
3. Direct Payment Processing
✅ Payments are issued directly from NetSuite, eliminating reliance on third-party payment platforms like Bill.com.
✅ Vendors receive payments on time, reducing the risk of late fees.
✅ Businesses can take advantage of early payment discounts to save even more money.
How NetSuite’s AP Automation Saves Money
1. Reduces Labor Costs
✅ Finance teams spend less time on data entry, chasing approvals, and reconciling payments.
✅ Automated processes free up resources for higher-value financial planning tasks.
2. Avoids Late Fees & Captures Discounts
✅ Real-time invoice tracking prevents missed due dates, eliminating late payment penalties.
✅ Businesses can leverage early payment discounts, maximizing savings.
3. Reduces Fraud Risk & Improves Compliance
✅ Audit trails ensure compliance with financial regulations.
✅ Automated workflows reduce opportunities for invoice fraud and duplicate payments.
4. Improves Cash Flow Management
✅ Finance teams gain real-time visibility into outstanding liabilities.
✅ Better forecasting of cash inflows and outflows leads to smarter financial decisions.
Why Choose NetSuite’s AP Automation Over Bill.com?
Many businesses rely on third-party AP solutions like Bill.com, which require separate integrations. NetSuite AP Automation is built directly into the ERP, eliminating integration challenges and providing a seamless experience. Save time and money with AP Automation.
Maximize Efficiency with NetSuite AP Automation
💡 If your business is still manually processing invoices, chasing approvals, and struggling with cash flow visibility, it’s time to switch to NetSuite AP Automation. Reduce operational costs, eliminate inefficiencies, and optimize your AP process—all from a single platform.
🚀 Ready to transform your AP process? Contact JS Boss today to learn how NetSuite AP Automation can drive efficiency and savings for your business!
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