Automating Payment Receipts to Cut AP Close Time by 70%
The Challenge
A fast-growing online retailer relies on a corporate credit facility to pay vendors immediately—unlocking early-pay discounts and passing savings directly to customers.
But that advantage came at a cost. Each day, the AP team had to:
- Manually collect vendor payment receipts
- Match receipts to invoices
- Reconcile transactions against credit facility payments
With hundreds of transactions flowing through the credit facility, reconciliation became a daily bottleneck. AP close slowed, errors increased, and skilled accounting staff were pulled into repetitive, low-value work.
The Solution
Already using the NextProcess Accounts Payable platform, the retailer partnered with NextProcess to eliminate manual payment receipt processing.
NextProcess implemented an automated workflow purpose-built for payment receipts:
- Vendors submit payment receipts directly into the platform
- Key data is automatically extracted and validated
- Receipts are matched to invoices and credit facility transactions in real time
- Verified payments are flagged as complete and exported automatically to the ERP
By closing the loop between vendor receipts, invoices, and disbursements, NextProcess eliminated manual matching and ensured continuous accuracy across the AP process.
The Results
The impact was immediate:
- 70% faster AP close cycle
- Automated reconciliation of payment receipts and invoices
- Dramatically reduced manual effort with improved accuracy
- Improved inventory visibility tied to verified vendor payments
- Stronger audit readiness with a complete, digital payment trail
Most importantly, the AP team was freed from transactional work—allowing accounting professionals to focus on higher-value initiatives that strengthened financial control and supported scalable growth.
Why It Matters
For organizations using credit facilities, cards, or non-traditional payment methods, manual receipt reconciliation can quietly undermine AP efficiency.
By automating payment receipt processing, NextProcess transforms AP from a bottleneck into a strategic advantage—accelerating close, improving accuracy, and giving finance teams real-time confidence in their numbers.
Ready to Eliminate Manual Payment Reconciliation? Get started with NextProcess.
