The finance department is already a cost centre so adding extra software expense can be tough sell. It is important for the internal champion to build a business case for AP Automation. A recent study by Business Insider on AP Automation found that the $22 trillion US B2B payments market has been slow to digitize, with 36% of firms using paper invoicing, 47% relying on manual processes for approval, and 49% of payments made by check. The signs are point that there can be significant opportunities for digital transformation. Often the key to moving ahead with an AP Automation project is to build a business case. Here are a few of the items that could be included.
Setting accounts payable goals can help organizations drive improvement and efficiencies. Effective goal setting can also motivate employees. Without goals it is challenging to make quantitative improvements to the parts of the business that have an administrative versus a revenue generating focus. Creating these goals can be challenging for some departments, including accounts payable. Here are a few examples of accounts payable goals that may be worth tracking for your organization.
Continue reading Setting Accounts Payable Goals
In previous blogs we wrote about the benefits of accounts payable software. Most of these benefits were for an organization’s accounts payable team. There are also some significant benefits for suppliers with the right accounts payable software solution. Here are a few of the benefits for suppliers with accounts payable software.
Continue reading 4 Benefits for Suppliers using the OnePosting Accounts Payable Solution