Accounts payable has been talking about end-to-end integrated automation for at least 40 years. Today, the technology exists, but resources are limited and end-to-end AP automation is still not standard. Some AP departments have automated pieces of the AP process, but an end-to-end solution should include the ability to capture, integrate, measure, process store, and access information.
AP executives who are looking to automate face a daunting task. They need to present a compelling business case for automation with measurable outcomes – specifically: cost savings, improved visibility and control of expenses, improved compliance, and higher returns on investment.
Forces of change are at work as AP departments process more transactions with fewer staffers and AP managers face increasing scrutiny from C-level executives under pressure from stakeholders and regulators demanding operational transparency, accountability, better cash flow and compliance. Even the spread of automation is making accounts payable ore complex for companies with manual processes as they struggle to reconcile evolving invoicing and payment technologies with old and rigid systems.
Many companies have started down the road to automation. This whitepaper outlines the process fo transforming AP departments from cost centers into profit centers through data capture and end-to-end automation.