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What software is used in accounts payable?

AI Business Process Automation > AI Financial & Accounting Automation7 min read

What software is used in accounts payable?

Key Facts

  • 52% of AP teams spend over 10 hours weekly processing invoices, highlighting widespread inefficiency in accounts payable workflows.
  • 60% of AP professionals manually key invoice data into their systems, creating bottlenecks and error risks in financial operations.
  • 84% of an average AP practitioner’s day is spent on manual, repetitive tasks like data entry and approval chasing.
  • 24% of AP departments have already deployed AI to automate processes such as data extraction and anomaly detection.
  • Best-in-class organizations process invoices at costs 60%-80% lower than peers, driven by advanced automation and ePayable solutions.
  • Over 50 countries now mandate electronic invoicing, increasing pressure on businesses to adopt standardized, compliant AP systems.
  • The average occupational fraud event goes undetected for 12 months and results in a loss of over $1.78 million.

Frequently Asked Questions

What are the most common software tools used for accounts payable?
Common AP software includes subscription-based tools like Concur Invoice, QuickBooks, NetSuite, Xero, and SAP, which often integrate with accounting systems but still require manual data entry—60% of teams manually key in invoices despite using these platforms.
Why do businesses still have manual work in AP even after adopting automation software?
Many tools only offer partial automation, leading to bottlenecks—52% of AP teams spend over 10 hours weekly processing invoices due to hybrid workflows that rely on manual approvals, data entry, and error fixing despite some integration capabilities.
How is AI changing accounts payable for small and mid-sized businesses?
AI automates data extraction, anomaly detection, and approval routing using machine learning, with 24% of AP departments already deploying AI to reduce repetitive tasks that consume 84% of an average practitioner’s day.
Are off-the-shelf AP tools better than custom AI solutions for complex workflows?
Off-the-shelf tools often have brittle integrations and limited scalability; custom AI systems are better suited for complex financial workflows, enabling full automation of invoice capture, reconciliation, and compliance without dependency on rented software.
Can AI help prevent fraud in accounts payable?
Yes, AI enhances fraud detection through pattern recognition and anomaly monitoring—critical given that the average occupational fraud goes undetected for 12 months and results in over $1.78 million in losses.
Is it worth investing in custom AP automation instead of using no-code platforms?
Yes, no-code platforms lack ownership and struggle with complex integrations; custom AI solutions provide scalable, error-reducing workflows tailored to specific business needs, aligning with trends where mid-market firms are accelerating automation adoption.

Transform Your Accounts Payable from Cost Center to Strategic Advantage

While tools like QuickBooks, SAP, and NetSuite offer foundational support, they often leave SMBs grappling with manual workflows, integration gaps, and scalability limits—especially when managing high-volume AP processes. The future belongs to intelligent, owned AI systems that go beyond automation to deliver accuracy, compliance, and real-time financial insight. AIQ Labs specializes in building custom AI-driven solutions—such as AI-powered invoice capture, automated approval routing, real-time reconciliation, and cash flow–integrated payment scheduling—that eliminate 20–40 hours of manual work weekly and deliver ROI in just 30–60 days. Unlike brittle no-code platforms or rented software, our production-ready AI systems, powered by in-house platforms like Agentive AIQ and RecoverlyAI, are designed to scale with your business while maintaining strict adherence to SOX and internal controls. If you're ready to move beyond patchwork solutions and build an AP process that’s truly yours, take the next step: schedule a free AI audit with AIQ Labs to identify your specific bottlenecks and explore a tailored AI automation strategy built for long-term financial efficiency.

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