How to Make the C-Suite Stark-Raving Fans of Your AP Automation Proposal
Despite the well-documented benefits of technologies such as invoice data capture and enterprise content management (ECM), many accounts payable (AP) professionals remain frustrated that they can’t get their automation projects approved by senior management. In fact, only 22.8 percent of AP departments currently have a high level of automation, according to IOFM’s 2013 AP Department Benchmark & Analysis. While tight capital budgets are frequently cited as the culprit for stymied automation projects, the problem likely lies in disconnects between the tactical departmental benefits typically outlined in invoice automation proposals and the strategic enterprise priorities of senior management. With 61 percent of best-in-class companies currently using full AP automation, according to a 2012 study by Boston-based research and advisory firm Aberdeen Group, it is imperative that AP departments find a way to win approval for their automation projects. This white paper shows AP professionals how to frame their automation proposals to make senior finance executives stark-raving fans of automation initiatives.