RPA bots can be configured to automatically cross-check invoices with POs, ensuring that payments are made to the correct vendors for the correct amounts. The bots can then automatically prepare and submit payments to vendors through various payment methods such as ACH, wire transfer, and virtual cards. The bots can also track the payment processing fees and adjust the payment process to reduce or eliminate these fees. Finally, the bots can generate alerts or sends notifications for any discrepancies found during the payment process.
This automation ensures faster payments while reducing manual payment errors. This also saves time for the Accounts Payable staff.