Understanding AP Workflow Automation in Acumatica 2020 R2
Posted on: October 21, 2020 | By: Guy Logan | Acumatica
On September 16th, Acumatica announced the latest version of its award-winning cloud ERP product and introduced its new advances across the platform. One of Acumatica 2020 R2’s most anticipated new features is its AP Workflow Automation, which is described as a new machine learning and AI process that will reduce time spent on manual data entry. More specifically, Acumatica 2020 R2 users can use an Outlook plugin to send a bill PDF directly to Acumatica for analysis; the software then uses AI to auto-detect vendor names, amounts, quantities, and other relevant information listed on the bill. Even if the automated software fails to provide the needed information, users can manually fill in information for entry into AP, as shown below:
Ultimately, Acumatica’s new workflow automation feature will save users time by removing clerical tasks and redundant data entry. This new feature will be particularly useful for businesses that process a multitude of AP bills and currently rely on manual data entry.
In addition to automated AP bills, Acumatica 2020 R2 includes other financial automation features. For example, users are able to connect their accounts to financial institutions to automate bank reconciliations and streamline transactions. Users are also able to simplify expense management, including credit card reconciliations and employee reimbursements, through automated expense receipt creation and approval routing.
Next steps
Acumatica 2020 R2’s new features provide an unparalleled business management solution for transforming your company in the new digital economy. As a partner of Acumatica, Logan Consulting has helped clients grow their business with technological solutions. Contact us today to schedule a free consultation and find out whether a cloud ERP service like Acumatica 2020 R2 can help transform your business.