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Accounts Payable Automation
Businesses need efficient operations across the entire organization, including accounts payable.
Read our State of Accounts Payable Report.
AP teams often rely on manual processes that create inefficiency and increase expenses. AP automation with Pinnacle’s payables solution simplifies these processes and transforms workflows into an organized, digital program for end-to-end payment execution.
See how AP Automation cut invoice coding and key entry time in half for a franchisee.
How It Works
- Invoices are automatically captured and synchronized to an accounting system.
- Invoices are then routed through Pinnacle’s payables client access portal for examination and approval by AP staff.
- Approved invoices are paid according to the organization’s AP policy and vendor relationship procedures by check, ACH or virtual card.
- Payments are automatically posted back to the accounting system, and Pinnacle’s payables solution maintains a permanent online archive of the payment approvals and transactions.
Features
- Continuous sync to the accounting system
- Ability to precisely time payments
- Configurable user roles and payment limits to accommodate the organization’s payments workflow permissions
- Single sign-on through Pinnacle’s Business Online Banking solution
- Integration into Pinnacle’s Positive Pay solution for check fraud mitigation
Benefits
Pinnacle’s payables solution provides benefits across all aspects of working capital, efficiency and risk mitigation.
Working Capital
- Streamline invoice processing
- Reduce reliance on check payments
- Reduce exceptions and incorrect/late payments
- Improve trading partner relationships
- Enhance ability to control payments and consider implications of discounted payment terms
Efficiency
- Eliminate manual keying and coding of invoices
- Convert invoices to digital forms for workflow
- Reduce expense for paper storage and retention
- Complete all payments in one place regardless of type
Risk Mitigation
- Segregate duties by employee
- Control how invoices and payments are approved
- Leverage virtual card payments that provide one-time use and dollar-specific payments
To see if AP automation is a good fit for your business, call your financial advisor for a closer look.
Support
Already using AP automation? Our Treasury Management Client Services team is available to assist you Monday through Friday, 8:30 a.m. to 5 p.m. local time.
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Central Time |
Eastern Time |
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Phone number |
866.839.2781 | 855.282.8655 |
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Email address |
tmclientservice@pnfp.com | |
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