What does A/P's 'to-do' list look like?
Automation. Automation. Automation. That seems be the consensus when it comes to what’s on the top of A/P managers’ “to-do” lists.
According to a recent study by the Aberdeen Group, process automation is the top priority for 68% of A/P departments.
The study found that other top priorities were: cash flow and liquidity management; collaboration between procurement, A/P and treasury; and boosting payment performance.
Check out the chart below to see how high A/P departments ranked the priorities above.
For “E-Payables Benchmark 2009,” the complete Aberdeen study (free for a limited time), click here.
If you’re trying to figure out the current cost of what you want to automate — whether it’s invoices, payments, etc. — one simple equation can go a long way.
While the complexity of the calculation can vary greatly, this simple equation gives a pretty clear picture of your costs:
A/P salary (benefits included) ÷ the # of items processed = current cost
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
Companies seeking accountants to replace or reinforce their workforces will continue to find themselves stuck between a rock and a hard pla...
Back in 2013, the Securities & Exchange Commission (SEC) accused hedge fund manager George Jarkesy of defrauding two investors. Unlike ...
Finding and securing talent is always at or near the top of CFOs’ list of concerns. Could removing college degree requirements from ...
To attract and retain top-notch finance talent, many companies focus on the traditional lures. Examples: offering a competitive salary, tou...
Businesses that let new customers sign up via a click of the mouse may be forced to make cancellation of a subscription just as easy. Th...
Federal shutdown headlines dominate business coverage, but finance teams are focused on the practical fallout – revising project schedule...
