AP Vendor Payment
Automation

AP Payment FAQ's

• What is AP payment method?

  AP payment method is the type of B2B payment method made to a certain vendor. Most companies have several AP payment methods including check, ACH, credit, and virtual card payments. With payments automation, each vendor can be paid according to their preference without the paying party ever touching a piece of paper.

• What are the 4 payment methods?

  The 4 payment methods in B2B accounts payable are check, ACH, credit, and virtual card. Each vendor will want to be paid according to their preference, and this can be achieved with little to no effort thanks to payment automation.

• What is AP invoice processing?

  AP invoice processing is three step process of approving or denying a given invoice to be paid during the accounts payable process. This three step process includes invoice capture, invoice approval, and invoice posting.

• What are the examples of accounts payable?

  One example of accounts payable is the following: an automotive dealership needs to purchase parts for a car repair. They place a purchase order for 2 tires to a tire company which will then deliver those tires. That's when the accounts payable process takes place: capturing and approving this charge in order to release payment via the treasury function.

• How long is the implementation process?

  At CloudX our team of experts take a personal, customized approach to systems integration. We take the time to make sure you’re comfortable with all of APSmart’s capabilities and that you have a seamless transition in your day-to-day operations. For that reason, implementation can take as long as eight weeks, during which we work behind the scenes to give you a single, streamlined automation solution and ensure your team knows how to use it.

• What about the tools I’ve already invested in?

  Our APSmart technology helps to seamlessly integrate your existing ERP and other digital tools, in order to eliminate inefficiency and multi-tool use wherever possible. Our goal is to build on what you’ve created, streamline your existing processes, and allow a smooth, user-friendly transition into the future of business.

• How are CloudX services different from other platforms and tools?

  CloudX offers complete, end-to-end AP automation and document processing solutions to make operations smoother and financial insights more accessible to decision-makers. Not only do we bring today’s solutions to the table, but our intuitive and flexible services will also continue to adapt to your internal and industry-wide changes. Scale your business with versatile tools that take you from the dark ages to the Cloud Age.

• Why invest in automation?

  Carefully considering business investments is important. Fortunately, CloudX’s adaptable technology pays off big for your business, in more ways than one. Not only will you save valuable human resources and better apply your team’s skills to higher-order tasks, but you can also monetize the process while automating it. Believe it or not, we’ve established a pathway to monetize your AP process and have helped clients earn up to 60 percent cash back on accounts payable transactions.