The payments department is essentially the custodian of an organization when it comes to cash flow, which in turn is the lifeline of liquidity. If either one of the two core functions — Accounts Payable (AP) or Accounts Receivables (AR) — within the payables realm is inefficient, effectively an organization’s ability to accurately forecast its financial position is also compromised. This analyst insight, based on survey responses of over 100 financial services executives actively involved in the payments space, bridges the gap between AP automation and strategic vision. We will discuss some of the key market pressures which compel organizations to refine their AP processes and will also identify key technological capabilities which enable Best-in-Class companies to out-perform their peers across a multitude of metrics.
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