Gartner defines the accounts payable application market as cloud-based solutions that use intelligent automation to empower finance teams to independently manage end-to-end invoice processing, execute payments, and maintain master data across one or more ERP systems. These applications deliver configurable workflows, real-time analytics, and integration with procurement and treasury systems, creating a unified and scalable accounts payable operation.
Gartner defines document management as the tools and practices used to capture, store, process and deliver documents and information in support of personal, team and enterprise needs. Gartner estimates that 70% to 90% of enterprise data is unstructured, posing a significant challenge for organizations that need to unlock its potential using AI and also mitigate the risks of poor information governance. Document management platforms are critical to enterprise application strategies that require AI-ready, unstructured data (aka enterprise content).