Issues #1-5 can prove a massive expense for organisations – and a colossal waste of resources. At the same time, AP processes can create a choke point for the business and a barrier to broader organisation-wide finance, purchasing and supply chain transformation efforts.
Suppliers, budget-holders, C-suite strategists and investors expect more. But AP staff themselves are often unfairly the target of people's complaints, when they simply need the right tools to do a great job properly.
Where do the rock and scissors fit in?
AP needs two things. Firstly, a rock-solid automation framework would enable the great majority of invoices from all suppliers to be processed rapidly and accurately with minimal manual intervention, whilst providing full visibility and control.
Secondly, with ultra-sharp tools, AP staff can cut out masses of waste caused by paper processes. All PO and non-PO invoice exceptions could be handled quickly and all payments made accurately and at the optimum time. Money, time and talent can all be won back.
In the new world of advanced AP processes
, paper loses every time.