From Cost Center To Revenue Generator: Transforming AP From End To End
The Accounts Payable function has garnered recognition in recent years as a real opportunity to impact the bottom line. But the payables process offers room for improvement and significant savings through automation. So, where does the real, long-term value lie in Accounts Payable Automation? A recent webinar hosted by Paystream Advisors and MineralTree titled ‘From Cost Center To Revenue Generator: Transforming AP From End To End‘ explored how visionary organizations are turning AP into a revenue generator.
In this webinar, Paystream Advisors shared the latest research on AP efficiency and presented some interesting statistics on the current state of the department. While we won’t dive into all of them, we will share a few that stood out the most.
How much of each invoice format does your organization receive?
How is invoice information entered into your ERP, accounting software, or AP software?
What factors are driving your organization to consider an electronic invoicing solution?
What do these stats have in common? That the Accounts Payable process is overwhelmingly inefficient and that in order to transform AP into a revenue generator, companies need to implement a comprehensive solution. By definition, a comprehensive solution means a business will implement a single system that enables fast communication, eliminates delays, increases visibility, and reduces errors.
MineralTree helps businesses automate the entire Accounts Payable process from invoice capture to payment execution. With secure invoice and payment automation, MineralTree will transform your AP process and increase efficiency by 60% or more.