SutiSoft Debuts Enhanced Accounts Payable Offerings

Cloud software provider SutiSoft has introduced an enhanced version of its accounts payable (AP) solution.

The debut, announced in a news release Tuesday (Dec. 27), is designed to help companies “rapidly transform AP processes.”

The new features of SutiAP include the option to print multiple invoices at once and “select multiple cost codes and generate spend report based on search criteria,” the release stated.

In addition, the tool offers improved options for emailing invoices and other options designed to automate manual workflows, according to the release.

The launch comes at a time when companies are being forced to do more with less in terms of accounts payable, as PYMNTS noted earlier this month in our conversation with Kenneth Apple, vice president of customer success at Routable.

“What I am seeing is that people are being cautious,” Apple told PYMNTS of his company’s corporate clients. “They’re being financially safe — and making decisions through the lens of, ‘I have a limited number of dollars — and how can I get the most return on those dollars?’”

When it comes to managing AP processes, there’s a set amount of work to be done, and efficiency is vital.

Efficiency, Apple said, doesn’t need to mean eliminating staff. Instead, companies need to think in terms of team efficiency. A large majority of the team’s time is spent dealing with repetitive tasks connected to invoice generation and other back-end workflows.

Apple added that a growing number of companies have allowed their finance teams to automate their activities via application programming interface (API) or other technologies.

Meanwhile, research by PYMNTS suggested an AP revolution could take place over the coming years.

“AP Automation: Transportation Companies Innovate to Drive Growth,” a PYMNTS and Routable collaboration, found that the near-majority of transportation companies (45%) are planning to automate their payable systems and platforms over the next three years. Just 3.9% of companies have already started automating their AP processes.

“Thrust into the limelight as a result of the hyper-rapid rise of eCommerce and a broader ongoing digital transformation, companies in the transportation, shipping and logistics field have seen a soaring demand for their services correspond with a similar increase in the need to process payables,” PYMNTS wrote.

Nearly three-quarters of businesses are already processing at least 1,000 payables per month, with most of those organizations expecting their payable volumes to keep rising by 11% or more in the years ahead.

All that volume highlights a crucial need for upgrades and innovations across AP systems, many of which still use manual processes such as writing and mailing checks.

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