A/P pros: 'Automation's not all it's cracked up to be'
With all the buzz surrounding A/P automation, you may be surprised by what companies that actually made the switch had to say about the results.
The Association for Financial Professionals recently polled companies that chose to implement an automated system and found up to 82% of those companies are disappointed by the results of the automation.
Of course, it really depends on what functions your A/P department is looking to automate.
For example, manual processes for things like analyzing bank fees or running cash-flow reports are still probably the way to go. However, when it comes to something like creating an audit trail, automation gives A/P better results.
Another plus to automating A/P processes: Even though many automated tasks take the same amount of time to complete as the manual equivalents, the automation frees up A/P staffers to work on other projects.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
The conditional formatting tool in Excel allows users to apply many different formatting options to data. The benefit: sorting and recogniz...
Managing cash flow is one of the most pressing challenges finance teams contend with. T&E programs are a large and variable part of com...
A lot more contractors and businesses like yours that receive payments via CashApp, PayPal or Venmo have been bracing for getting a 2022 Fo...
The Securities and Exchange Commission (SEC) just fined a company $35 million because it didn’t maintain adequate disclosure rules fo...
Finding and securing talent is always at or near the top of CFOs’ list of concerns. Could removing college degree requirements from ...
Sales tax compliance is a demanding job for finance teams like yours. For example, comparing the number of tax rate changes across the U...
