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
Fewer college students are willing to put in the time and money to become accountants. Finance professionals are concerned about the dwindl...
Many businesses are hesitant to spend big bucks on capital improvements or new equipment due to inflation, high interest rates and economic...
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of ...
Those of us who can remember the Internet becoming a fixture in the workplace also remember a lot of so-called experts making dumb predicti...
How many times has your Finance team seen the word “processing” on their laptop screens this week? Instant payments, both via T...
The Financial Accounting Standards Board (FASB) is requiring public companies to disclose expense details involving employee compensation, ...
