Accounts Payable Trends 2022

The Future Of AP In 2022 :
5 Important Trends To Be Ready For
Delivering The Future of Work

• Are the expected 2022 Accounts Payable Trends (automation, cloud solutions, and remote work)
new or familiar to Finance Leaders?
• Has your organization evolved with these trends?
• How can your organization address them efficiently?
“
2
AP Automation Trends 2022

CAGR 11.0%
Opportunities in the AP Automation Market
Note: e- Estimated : p- Projected
Source: Secondary Literature, Expert Interviews
• The increasing demand for controlled user access to reduce frauds related to payment is one of the major
factors driving the growth.
3
Lack of digital awareness Literacy of AP automation benefits

Actionable Accounts Payable Trends 2022
4

Trends #1
Remote accounts payable, hybrid models, and agile accounting, will
increase demand for higher levels of accounts payable automation.
Remote Work
Working from a
different location
than the office
Hybrid Work
Working some days
from home and others
from the office
Agile Accounting
Working from any
location, any time
Actions
● Set up the fundamentals to process
invoices from any location
● Implement a Cloud Solution
Benefits
● Remotely working will boost
productivity
● Increase talent retention
● Flexible accounts payable team
Read more about the benefits of accounts payable automation in our blog.
5
✔ First, a brief explanation of the differences between concepts :

Actions
● Another item to add to your Invoice
Management Solution checklist
● This will prevent using standard
robots that, in the end, require a lot
of maintenance.
Benefits
● Reduced operational costs and
increased efficiency, accuracy, and
compliance.
Machine Learning (ML)
A subfield of artificial intelligence
and computer science. ML uses
algorithms and data to imitate how
humans learn, to improve its
accuracy.
Artificial Intelligence (AI)
Systems that think like humans. AI
combines computer science and
vast databases to make problem-
solving possible.
Discover more about :
Trends #2
Aavenir’s AI to Check Duplicate Invoices & 3 Ways AI can optimize vendor invoice processing
6
Artificial Intelligence and Machine Learning will power up accounts
payable processes, enabling higher levels of automation and accuracy

Trends #3
Actions
● Define your KPI’s and ensure that
your AP solution can produce them
● These reports will save you time
and provide actionable insights to
improve your productivity throughout
the Purchase-to-Pay (P2P) process.
Benefits
● Ability to define clear actions, based
on facts, to improve the Purchase-
to-Pay process.
● Clear Visibility on Spending
Here you can find a compilation of 5 accounts payable KPIs which are being tracked by finance leaders.
✔ Accounts payable solution support organizations by providing data analytics and
reporting capabilities.
✔ These new features will help with the interpretation and processing of data by
setting up KPIs.
7
Data analytics - Invoice Productivity reporting is here

✔ Don't worry about standardizing all your vendor and customer invoices to a fixed
template.
✔ Work with PDF, image, and text invoices effortlessly, no matter how the invoice
is structured.
Trends #4
Actions
● Let your vendors and customers
simply send invoices to your AP
email ID.
● Create different workflows for both
PO and non-PO invoices within
Invoiceflow.
● Store all invoices in a global,
centralized, and full-text searchable
repository on ServiceNow.
Benefits
● Identifies, categorize, ingest data
required for account payable
workflow from any invoice
● Extracting structured field-level
invoice data elements from image
or document.
Learn more about Best Practices: Automating Invoice Approval Process for PO vs. Non-PO Invoices with us.
8
Digital Processes for Invoice workflows

✔ Combating invoice fraud with AP automation is about verifying invoice
information, knowing if the order was received and the PO is accurate.
✔ Aavenir’s AI-powered Accounts Payable solution significantly increases visibility
and communication about invoices throughout the company.
Trends #5
Actions
● Ensure data security & fraud
protection
● Implement cloud solutions and
automate certain invoice workflow
operations
● Internally activate protocols and
implement solutions that prevent
fraud
Benefits
● Higher productivity
● Increase of compliance and
consistency
● Reduce the throughput time of
invoices
● Avoid late payments and make use
of early payment discounts
Know How AP Automation Can Help Reduce Invoice Frauds?
9
AP automation with the highest levels of data security and fraud protection

Aavenir Invoiceflow
Live In-Action
AI-enabled Accounts Payable Workflow on ServiceNow
10

Aavenir
Accounts Payable
Automation (APA)
for ServiceNow
11

Accounts Payable Automation Workflow
Approval & Pay
Extract
EMPLOYEES
PROCUREMENT
FINANCE
IT
Verify
Onboard Data on ServiceNow
Identify Confidence Levels
Trigger A/P Workflow
>>>>>>>>
2-way/ 3-way Match
Business Approval
Integrate with ERP/ Payment
Aavenir Invoiceflow for ServiceNow
Collect
Send Non-PO / PO Invoice
Format : PDF/ JPEG
Single Email Alias / Folder
OCR Scanning
Identify & Match Patterns
Extract Meaningful Data
>>>>>>>> >>>>>>>> >>>>>>>>
TECHNOLOGY WORKFLOW / INTEGRATION
12

© Aavenir All rights reserved. 13
Resources to know more
Value Kits, ROI
Calculator
RFP Templates Buyers Checklist,
Ebooks
Request a Demo
Want to see Aavenir Invoiceflow Live-In-Action ?
www.aavenir.com

Delivering the ‘Future of Work’
15
www.aavenir.com
contact@aavenir.com
twitter.com/AavenirInfo
linkedin.com/company/aavenirinfo

Accounts Payable Trends 2022

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