The world of Accounts Payable is changing.
The 2020 pandemic saw 88% of global businesses having to rapidly shift their teams over to remote work operations. It required finance leaders to take a fresh look at the tools and processes they’re using to manage and control finances - including the crucial roles of invoice processing and accounts payable (AP) management.
As more accounts payable teams work remotely, fundamental problems caused by traditional manual, paper-based approaches have been brought to the forefront.
A recent survey by the Association of Certified Accounts Payable Professionals (ACAPP) identified the top two challenges facing AP teams:
- Invoice expectations causing delays (78%)
- Too much manual data entry (72%)
To tackle these limitations, Finance Directors are turning to digital solutions and automating the process for a more agile and remote-friendly operation.
So how do you choose and implement the best automated AP solution for your business? Let’s take a look.
This guide covers:
- What is AP automation?
- How to choose the right solution
- How to manage the implementation