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.
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