Adrian Johnson
TLDR: Unveiling the power of accounts payable automation
Key points:
- Almost 80% of companies expect an increase in the volume of payments processed through accounts payable systems in the next three years.
- Generative artificial intelligence is a powerful tool that automates processes and enhances decision making.
In the article “Unveiling the power of accounts payable automation” by Paul Wnek, the focus is on the benefits and necessity of digital transformation in accounting and payment functions. The demand for automation in finance and accounting processes is evident, with many businesses planning to use artificial intelligence in their operations. However, despite the benefits, a significant percentage of companies have not yet embraced automation in accounts payable processes. The article debunks myths surrounding automation, addressing concerns about cost, complexity, and security. It emphasizes the cost of manual errors in AP processes and highlights the functional and human benefits of automation. Furthermore, the article stresses the importance of finding the right partner and avoiding piecemeal systems when implementing AP automation. Overall, embracing automation in accounts payable functions is essential for long-term success in businesses.
