This whitepaper sponsored by The Accounts Payable Network outlines the reasons why process automation is key to successful businesses current and future growth. In today’s world of high unemployment and margin pressure, the CFO has become the most important member of a company’s management team. In a recent CFO Magazine study, when CFOs were asked what has not changed in the last 25 years, they were quick to point out three things: “economic uncertainty and its impact on forecasting and risk management; the impact of regulation; and the continued primacy of cost cutting and process efficiency.
The Aberdeen Group found that the top pressures driving AP Automation today in North America are:
- Lower Invoice Processing Costs | 71%
- Reduce Invoice Receipt to Payment Cycle | 51%
- Improve Visibility | 39%
- Reduce Staff | 27%
- Improve Compliance | 23%
How can these pressures be met? The answer lies in the increased use of AP automation coupled with process change, and this is what this whitepaper will explore.