MineralTree’s 2022 State of AP Report looks at the growth of ePayments, and the disconnect between buyers and suppliers regarding adoption. Learn more.
For a variety of reasons, it can be difficult to convince some executives to make the investment in AP automation. Here are some of the major areas to highlight about how AP automation will improve the business.
E-commerce is built on digital customer experiences and processes. That same thinking needs to be applied to the financial back office. Automating foundational processes like accounts payable can provide e-commerce operations with proven methods to overcome key supply-side challenges and deliver far-ranging benefits that help all facets of the business.
There are different solution options for AP automation. The key is a smooth implementation that delivers faster time-to-value. Here are six steps to ensure the transition to AP automation is a seamless one.
“Improving the ability to pay suppliers on time builds better relationships, improves the ability to negotiate discounts, and minimizes the chance of additional supply chain issues. Suppliers not only depend on cash flow to run their businesses, but also to produce more supplies, so faster payment can help alleviate supply bottlenecks.” Article by VP of Product and Program Management, Matt Friend.
“Automation not only eases the financial pressure these organizations are often under but requires less manpower, which helps overcome challenges associated with worker shortages, all while supporting a positive vendor relationship.” Article by MineralTree COO, Elle Kowal.
