A Checklist for Developing a Future-Proof AP OrganizationTransforming the accounts payable process delivers indisputable value in the form of reduced transaction costs, traceability and increased control over payment timing.
Top-performing organizations don’t focus solely on process automation. Rather, they take a multifaceted approach – one that includes centralizing invoice receipt, digitizing all information, optimizing internal resources, and carefully balancing processes managed in-house with those that are outsourced. Recently, top performers haev begun to focus on adding capabilities designed to deliver additional value, such as mitigating invoice fraud, enhancing quality and compliance, and increasing working capital value from the financial supply chain.
Report Snap Shot
Purchase-to-Pay Performance Study shows that organizations with high levels of AP automation save 54% on invoice processing costs and use one-third as many internal employees.