Company
Date Published
Author
Swetha Kumaraswamy
Word count
2425
Language
English
Hacker News points
None

Summary

The future of accounts payable (AP) lies in paperless AP and automation, which can transform this traditional back-office function into a key driver of growth. The AP automation market offers various solutions to meet the evolving role of AP teams, including AI-driven platforms that automate invoice processing, streamline approvals, and optimize payment workflows. Key technologies in future AP processes include intelligent automation, OCR and NLP-enabled invoice capture, machine learning for GL coding, robotic process automation (RPA) for multistep workflows, and mobile-friendly solutions. To stay competitive and contribute strategically to their companies, AP teams must upskill with emerging technologies like AI, data analytics, low-code platforms, and continuous learning.