A company’s accounting practices—and specifically its accounts payable (AP) processes—can quickly become one of the most inefficient uses of time in the organization.
Despite the inherent importance of responsible money management, companies continue to lag on adopting the tools needed for their teams to thrive, instead leaving them with time-intensive, error-prone, and headache-inducing antiquated AP processes.
Surprisingly enough, this is even the reality for mid-market enterprises, which are some of the most likely to have a decentralized procurement department with no automation tools in place, and 65% of which manually enter their invoice data. The biggest reason for the hesitancy to implement an automation solution is that many believe affordable AP automation solutions are not available.
The good news is that adopting an AI-powered AP solution is likely more cost-effective than you may think. The right tools can also lead to increased efficiencies, happier employees, and stronger vendor relationships that can boost your bottom line for years to come.
This whitepaper gives an in-depth analysis on how an automated AP can save your finance organization enough money to essentially cover the cost of an automation solution.