Many organizations understand the benefits of accounts payable (AP) automation. However, a large number still rely on internal, inefficient processes to manage AP, which can slow AP departments down and produce unnecessary errors along the way
To maximize the effectiveness and strategic value of AP, organizations should strive to completely integrate AP with their accounting system using a best-in-class solution like Paypool.
Integrate AP Procedures with Paypool
If your business is like the 74 percent of companies who haven’t transitioned to automation, according to a recent PYMNTS and Mastercard survey, there’s no better time. Integrating an AP automation platform with your accounting software creates a better AP workflow.
Paypool offers organizations efficient cloud-based and ‘file export’ integration options. With a ‘file export’ process, data is easily downloaded from Paypool then uploaded to the accounting system.
Paypool’s cloud based integration, which is available for select accounting systems, provides other distinct advantages. It’s quick, web-based, and very efficient. Data is seamlessly shared between Paypool and accounting packages, Acumatica, NetSuite, Sage Intacct, and QuickBooks, via application programming interfaces (APIs).
When you export data from an AP automation software to your accounting system, you are syncing up important data including:
- Vendor name,
- Invoice number,
- Invoice amount,
- Due date,
- Check number,
- Check or ACH payment amount,
- GL coding,
- Date Paypool registered the invoice, and more.
Cloud based integrations are built to mirror the available fields in the accounting package and automatically syncs them online. With certain integrations, Paypool also has the ability to pull data back in from the accounting system, such as new vendors, to ensure that information fully matches up between systems.
Level Research discovered that those using cloud-based solutions felt more content with the features compared to those using homegrown or enterprise resource planning-based solutions. Cloud-based integrations are the most adaptable options available for organizations, regardless of revenue segment. Paypool can customize the right package to fit your AP department’s needs, while at the same time increase efficiency.
Increase AP Effectiveness with Paypool Integrations
For some organizations, managing financial obligations manually can work. But if you’re looking to enhance your workflow and increase efficiency, integrating your accounting system with an automated AP solution is the best option for the following reasons:
- It guarantees that information is accurate and always available to the right people.
- It ensures that the integrity of data maintained in the AP automation platform syncs with the accounting system, keeping data consistent and up-to-date.
- It centralizes payments into a single system, which collects the data and exports it to your accounting system, and
- It makes it easier to track who's getting paid and how, while also reporting cash flow accurately.
When you integrate with Paypool you will see improvements in transparency, efficiency, and accounting controls. Because data is aligned across the AP process, it is easier to stay compliant, regulate fraud or abuse, and manage allocations. With Paypool’s end-to-end solution assisting your team, expect a fully, streamlined AP workflow, giving you complete control and insight into the entire AP process.
Paypool works with thousands of clients across a variety of industries to improve their AP challenges. Our AP automation and integration features can be customized to help meet your goals. Request a demo today.
Brian Acton, Marketing Coordinator at Paypool
Brian has marketing experience at agencies and internal marketing departments. Since 2015, Brian has managed Paypool’s marketing department.