The need to automate AP processes has never been more pressing. With many businesses having reduced staff to compensate for the economic downturn, the rebound we’re now seeing has created a predicament for those companies relying on manual processing. While they could try to return to their previous methods by staffing up and training new people, does that really make sense in light of what we know now?
IOFM partnered with Basware to analyze the best strategy now that volumes are picking up for many organizations. The cost of doing nothing—trying to return to outdated manual methods—will likely be expensive, not to mention highly inefficient.
Instead, end-to-end automation—where data collection and reporting are dynamic, where companies have insight and control over cash flow, where workflows are smooth and seamless—promises not only a giant step toward process improvement, but presents an opportunity to adopt a transformative process. In fact, automation offers business intelligence that can’t otherwise be obtained.
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