Technology
Accounts Payable (AP) automation has been gaining traction in recent years, especially in the financial services industry to improve efficiency, reduce costs, and mitigate risks.
With the volume of invoices and expense reports continuing to grow, manual AP processes are becoming cumbersome. Automation solutions help financial service firms streamline AP operations through advanced technologies like optical character recognition (OCR), document extraction, and approval workflows.
Let’s explore the trends and best practices for AP automation in the financial services industry.