The AP process is time-consuming, so it’s common for CFOs to hire AP staff on their finance teams. The manual, paper-based tasks of managing invoices can become overwhelming and, depending on transaction fees charged by their business bank, costly for small business owners and startups.
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AP automation software can streamline the process – from invoice management to payment and reconciliation – drive cost savings, improve cash flow, and remove time-killing bottlenecks.

The right automation system helps you spend less time on manual data entry, go paperless, and more time on higher-value work – without needing a full-blown AP department.

OCR is “optical character recognition”, a tool that leverages artificial intelligence and machine learning to recognize text within a digital document, such as a scanned paper invoice.

When a Rho customer sends an invoice file to their dedicated Rho AP Inbox, we convert the file into a draft bill for the user to review & pay.

After scanning an invoice, Rho then pulls invoice data like vendor and payment details, runs duplicate invoices, executes invoice approval workflow routing, and auto-syncs with ERP systems, creating liability including corresponding payment due dates.

Users then easily authorize bill payments, and Rho will track detailed payment processing statuses and automatically mark liabilities as paid in your integrated accounting software. Extensive reporting is available for csv export as well.

Rho’s accounts payable automation capabilities are free to Rho customers who have Rho accounts. While Rho does not charge for ACH or wires, clients may experience fees with international wires charged by receiving institutions not controlled by Rho. Check out our pricing page for more information.

Great question! We wrote an entire guide to the best AP automation software on the market to help answer this question, including how Rho AP automation works.

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In summary: Rho integrated its banking platform* and AP automation in one platform, helping to mitigate issues commonly caused by AP automation process point-solutions.
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Examples include late payments, limited financial visibility, increased risk of human error, time-consuming business processes, problematic vendor relations due to delayed payments, and complex reconciliation process.
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Plus, we don’t have platform or ACH transaction fees that many competing AP automation systems on the market charge clients.

*Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.

We do not currently offer procurement, procure-to-pay, or supply chain management capabilities beyond in-platform vendor management and onboarding tools.

No, not at this time. However, Rho’s electronic invoicing (e-invoicing) automation capabilities include two-way match between invoices and purchase orders.