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Accounts Payable can be one of the biggest sources of risk, waste, and cost in an organization, with 79% of businesses reporting that they were victims of payment fraud in the past year. There is a significant opportunity, too.
Leading organizations turn AP into a profit center that makes timely, secure payments to happy suppliers, avoiding the pressures of too much paper, too many exceptions, and a lack of visibility and investment in technology through automation and fraud prevention. With the right investments and the right attention, the function can be one of a Chief Financial Officer's top performers, not the traditional risky department that it long has been.
This best practices guide outlines the importance of transforming accounts payable from a paper-based, inefficient function into a streamlined, secure and intelligent operation with great value to the larger organization. Read to better understand the value proposition of AP automation, invoice process refinement, and enhanced payment opportunities.
Finance executives always talk about Accounts Payable’s costs, many inefficiencies, and risks. If they only knew how easy it was to increase AP’s efficiency, security, and profitability with Bottomline’s end-to-end AP Automation solution. Watch this 2-minute video to find out how AP automation can help you.
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