Bank of America’s Complete AP is a combination of software and service to automate your accounts payable process. It can track purchase orders, convert invoices into digital formats, organize the invoices within the system, route them for approvals and issue payments to suppliers. By integrating with your ERP or accounting system, Complete AP not only helps eliminate paper; it streamlines the process and provides 24/7 visibility into the status of purchase orders, invoices, approvals, and payments.
Complete AP
Automate Accounts Payable processes from purchase order, to invoice, to payment
How it works
- You create a purchase order in Complete AP or import from your ERP system
- Your suppliers submit invoices directly to Complete AP
- Invoices are digitized and prepopulated with header-level data
- Complete AP routes the invoices to your correct team for approval
- Use two- or three-way match across purchase orders, receipt of goods and invoices
- Organized queues, alerts, and audit trails keep the approval process on track
- Once approved, you can initiate payments through a single file
- We work with your suppliers to process and follow up on payments via virtual card, enhanced ACH and check, according to the suppliers’ saved preferences
- Utilize analytics dashboards to visualize your AP data and help you make more informed decisions
Would AP automation be a good fit for you?
Bank of America Complete AP can be especially powerful for businesses that:
- Have distributed operations and need to centralize AP processes
- Make 75% of payments via check today
- Process more than 150 payments and/or 200 invoices per month
- Need better visibility into finances and spending
- Want better insights and analytics on your AP process
- Frequently make late payments due to inefficient processes
- Plan to grow without adding headcount
- Want to move to a digital system and eliminate the filing cabinets and paper process
- Seek increased security and fraud protection
To get started, speak with your Bank of America representative about Complete AP today.
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