Say goodbye to time consuming tasks and manual workarounds for good! In our latest eBook titled “Beyond Automation: Touchless Invoice Processing”, we dissect every aspect of Touchless Invoice Processing to help guide finance teams through the journey. It’s a complete guide to going touchless.
Addressing the Challenges
Accounts payable (AP) departments continue to face the same challenges with inevitable outcomes. Do any of these challenges sound familiar?
- Long invoice processing times
- Under-utilised talent frustrated by inefficient technology
- High amount of exceptions
- Manual processes, still too much paper in the process
- Lack of time for more strategic and value adding work
- Late payments
You’re not alone. Any number of these challenges lead to inefficient processes and a lack of insights. However, with detailed insights, AP teams can answer questions such as, how many invoices are PO-based, how many are paper vs. electronic, how many go straight-through without manual re-working, checking, etc. - all achievable through Touchless Invoice Processing.
The Value of Touchless Invoice Processing
With a touchless process, these valuable metrics and measurements are automatically collected, giving your team the critical data points required for digging deeper into their financial analysis. It’s an invoice process free from as much human intervention as possible and drives powerful efficiencies, supports compliance, provides clear visibility, and supports smarter decision-making.
Measuring the Effectiveness of your Value-Driven Engine
In our eBook, we outline the KPI’s you should measure and track and dive into the following three key takeaways.
- Key Takeaway # 1: Touchless Invoice Processing requires a different way of thinking. A process is only considered fully automated if it is touchless.
- Key Takeaway # 2: Organisations are implementing AP automation for many reasons. To increase business efficiencies, eliminate bottlenecks, or manage risk and compliance – each business has unique objectives.
- Key Takeaway # 3: Artificial intelligence (AI) and machine learning (ML) is not limited to other industries. It can be deployed in processing invoices to increase process efficiencies and add value over time.