Knowledge Solution

Let’s be honest, if your finance team is still drowning in paper invoices, chasing approvals on email threads, or manually entering data into your ERP system, it’s time for a change. In today’s world, Accounts Payable Automation isn’t just a nice-to-have. It’s a strategic move that saves time, cuts costs, and gives your team the freedom to focus on value-added tasks rather than paperwork. But with dozens of tools promising to “revolutionize” your AP process, how do you know which ones are worth your time (and budget)? That’s where SPARK Plus™ comes in as your trusted co-pilot for smarter tech decisions. What is Accounts Payable Automation (And Why Should You Care)? Accounts Payable Automation is exactly what it sounds like — automating the end-to-end process of managing invoices, approvals, payments, and reconciliations. The benefits? •             Faster processing •         ...

  When procurement contracts or purchase orders are finalized, both purchasers and suppliers commit to mutually binding obligations. Suppliers agree to deliver goods or services that meet specified requirements within agreed-upon timeframes, while purchasers agree to make timely payments upon receipt of goods or services and invoices, following the agreed payment terms. By fulfilling their respective commitments, both parties aim to foster a mutually beneficial relationship. One way companies build positive relationships with suppliers is by ensuring timely payments. Improving the accounts payable process plays a crucial role in achieving this goal. Accounts payable (AP) refers to the money a company owes its vendors or suppliers for credit-based goods or services. The accounts payable process involves receiving purchase orders or procurement contracts from the purchase department, receiving supplier invoices and delivery receipts, matching them with purchase orders for contractua...