Accounts payable automation tools aim to reduce invoice processing costs

Businesses are increasingly looking to automate accounts payable (AP) processes to reduce costs and improve visibility into spending. Research from Ardent Partners indicates that while the average cost to process an invoice remains near ten dollars, best-in-class automated teams have reduced this cost to under three dollars.

Effective AP automation depends heavily on how deeply a solution integrates with a company’s finance system of record. For organizations utilizing Microsoft Dynamics 365 Finance, the choice often involves deciding between multi-ERP platforms and tools built specifically for the Dynamics ecosystem. Key considerations for selection include feature capabilities, the ability to minimize manual data entry, and how well business rules and financial dimensions transfer between systems.

Several platforms are commonly evaluated for these purposes, including Dooap, which is purpose-built for Dynamics 365, Truvio, Rillion, Medius, Tipalti, Stampli, and Yooz.