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7 Steps to Automate your Accounts Payable

Nanonets

Here’s a more detailed look at each step of the AP process, and where the inherent challenges lie within each part of the workflow. Invoice Collection: Inefficiencies in managing a mix of digital and paper invoices, leading to misplaced documents and delayed processing. between 2022 and 2029.

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What is AP Automation?

Nanonets

According to a survey by Data Bridge Market Research , the accounts payable automation market is projected to reach a value of USD 5,809.38 million by 2029, with a compound annual growth rate of 10.8% between 2022 and 2029. This process includes tasks such as receiving/processing invoices, data entry, approvals and payment.

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