Technology is surging and the future of accounts payable looks promising. Transforming AP is achievable and encouraged as more and more companies are embracing digital transformation and passing up companies that are lagging behind.
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In our previous blog post we highlighted the top challenges that AP staff are reporting. These included invoice exceptions, high invoice processing costs, lack of invoice and payment visibility, long invoice and payment approval times, and too much staff time spent handling supplier inquiries.
The use of technology is surging, but there are still problems that are plaguing AP teams and causing them to lose money, time and a competitive edge.
What do you get when you pair accounts payable automation technology with payment automation technology? The ultimate time- and cost-saving toolkit that drives efficiency and streamlines processes from start to finish.
When it comes to the future of enterprise technology, artificial intelligence (AI) is the name of the game.
Adopting digital technology is about more than just plugging it in and pressing “Go.” And while the pandemic has accelerated the rate at which business leaders are adopting digital technology – according to Gartner, 7 of 10 boards of directors are speeding up their digital business – it also takes a change in work habits and mindset in order to get the most out of new, digital technology.
More companies than ever before have adopted automation technology since the pandemic struck. Automation, like robotic process automation (RPA), has allowed companies to continue to run business operations securely, efficiently and strategically no matter where employees are working from. And when the post-pandemic world finally appears, automation will be key for recovery.