Accounts Payable is a module that is usually part of manufacturing / ERP software solutions. Accounts payable software helps make the processing of invoices efficient and make sure that all vendors are paid.
Good accounts payable software will include a scanning and OCR ability to read all invoices that come in, plus a document management facility to store all of the invoices that come.
Before automated accounts payable software was available, accounts payable was a a labor intensive function involving the input of many people. Good automated software will streamline the process, from the receipt of invoices to payment, so that your company will never miss payments, incurr late fees, and anger suppliers and vendors.
Good automated accounts payable software will capture invoices from many locations, using integration tools for the output of scanners, faxes, and emails.
Sophisticated accounts payable software will employ rules to to automate the workflow, record invoice details, and prompt you for missing information, and for timely invoice payment when any vouchers are due.
Among the features to look for in accounts payable software for manufacturing are: