Meaning ● Intelligent Accounts Payable (IAP) signifies the adoption of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) within the accounts payable processes of Small and Medium-sized Businesses (SMBs). ● For growth-oriented SMBs, IAP facilitates enhanced efficiency, accuracy, and cost savings by automating tasks such as invoice processing, data capture, and fraud detection. ● Within the automation scope, IAP streamlines workflows, reducing manual intervention and accelerating payment cycles, thereby optimizing cash flow management. ● Furthermore, the effective implementation of IAP enables SMBs to gain deeper insights into their spending patterns, improve vendor relationships, and ensure compliance with regulatory requirements, all while scaling operations.
