Accounts Payable Automation

Key Points

• Accounts payable (AP) automation can offer real short-term efficiency savings to deal with an uncertain business environment marked by political and economic turmoil

• Paperless receivables is being driven by three factors: the need to become more efficient and better risk management, and advances in electronic technology

• Companies need a strategy considering pain points in current process, willingness and ability of the business to manage change and the relative costs and benefits

• AP automation can reduce costs and errors and exceptions, reduce time answering suppliers’ questions, improve relations with suppliers and improve the company’s brand image