Small business accounting software helps an AP department reduce the time spent on manual data entry through integration and automation technologies. A business syncs bank accounts, credit cards, and other third-party apps with the software. The data is then processed according to custom settings.
Accounts Payable Hub
eSourcing is a series of automated pre-procurement processes using an Internet-based software system to identify, evaluate, compare, and select vendors for purchases. eSourcing handles the collection and storage of quotations, proposals, bids, order negotiation, contract management, and online collaboration through a portal. eSourcing software performs spend management and analysis.
Expense management is a system of business processes ranging from establishing company policies, having employees submit electronic receipts, issuing corporate credit cards to employees for routine purchases, generating exceptions reports, routing expense payment requests to approvers, controlling expenditures, and making payments to reimburse employees for approved expenses.