Automating accounts payable, also known as Automated Integrated Payables (AIP), is a service that enables businesses to automate their accounts payable process by integrating their accounting system with their bank’s payment processing platform.When utilizing AIP, businesses can benefit in several ways:
- Lower costs: AIP can help reduce the cost of processing payments by automating the accounts payable process, which can help reduce errors and save time.
- Improved cash flow: AIP can help businesses manage their cash flow more effectively by automating the payment process, which can help ensure that payments are made on time and reduce the risk of late fees or other penalties.
- Improved security: AIP offers advanced security features, such as encryption and multi-factor authentication, to help protect against fraud and other security risks.
- Drive rebates and generate early-pay incentives.
By working with NextStage to automate their payables, businesses will benefit from a more efficient and cost-effective payment processing system that provides a positive user experience for both customers and suppliers.