Accounts payable is often undervalued as playing a strategic role in the organization. Corcentric now offers the “Definitive Guide to Accounts Payable Automation” showing how automation can unlock the value of accounts payable
In a highly competitive, ever-expanding global market, CFOs are charged with improving performance and efficiencies throughout the organization. Paper and manual processes stand in the way of achieving that goal and nowhere is that more a fact than in the finance functions that make up the purchase-to-pay cycle. From purchase order to invoice to receipt of goods to the actual payment, the chance for errors due to multiple pieces of paper which can be lost or misplaced; manual keying which can result in keying mistakes; and a total lack of visibility into an invoice status that prevents real-time knowledge.
Faster processing, lower costs, more on-time payments
Automating the accounts payable workflow approval process not only avoids those errors mentioned above that are inherent in paper-based processes, it also reduces costs, enables 24/7 visibility, and provides valuable data and analytics for better decision making. In fact, implementing an AP automation solution can optimize your invoice flow and help your department to:
- Process invoices up to 70% faster
- Reduce invoice processing costs up to 80%
- Realize the value of e-invoicing
- Enable each FTE to process 6,000-8,000 invoice per month
- Pay suppliers on time with 100% disbursement, either electronically or through other methods
Corcentric’s new e-book lays it all out
The benefits go well beyond those listed above, including giving CFOs and senior management the data necessary to better manage their working capital. That’s why Corcentric has created the Definitive Guide to Accounts Payable Automation, an e-book that will illustrate how a flexible, scalable cloud-based solution can help streamline your P2P cycle, give you the business intelligence you need to promote growth, and transform your AP department from a back-office cost center to a strategic asset. The Guide will illustrate the many reasons you should consider turning to this very valuable technology and working with a provider that has expertise in the finance arena. The e-book is divided into seven sections:
- What is AP automation?
- What does AP automation look like?
- Automate for ROI: the best vs. the rest
- How to calculate your ROI
- 10 reasons why accounts payable automation is a no-brainer
- 5 must-haves for accounts payable automation success
- How to get there
Now in one single e-book, you can discover why companies like yours are increasingly choosing to automate their entire P2P cycle. Discover the benefits of freeing up staff to focus on high-value initiatives; always having the right information at your fingertips; quickly addressing the reporting needs of stakeholders; and so much more.
Download the Guide now to discover how you can put your AP department on the road to best-in-class status.