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Benefits of using the accounts payable software

  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...