The Strategic Advantages Of AP Automation
In today’s world of constant technological advances, automation has become the norm in most areas of business. To stay ahead of the competition and drive growth more quickly, savvy businesses are using automation as a way to stand out. Herein lies the concept that automation is not only a priority but also a strategic advantage to your business.
Innovation and evolution are key to the longevity and success of an organization. Across the entire business, software has expanded the scope of what the traditional job function entails. As with other technologies, automation isn’t being developed to replace a function, but rather to bring new tools and functionality to individuals. By enabling individuals to do more with less, technology has freed up staff to focus on more strategic tasks instead of spending time on mundane tasks.
A recent McKinsey report revealed that at least 45% of work activities could be automated using technology that already exists. Yet, most companies are not taking advantage of the full scope of resources that are available. While cost may play a factor in adoption rates, automation is less expensive than the closest alternatives: doing nothing or hiring an additional resource.
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