Accounts payable (AP) staff are on the front line of business change and often are tasked to implement cash flow policy changes in near real time. In many ways, AP has become the control tower for managing spend within the organization. However, many of them are stuck with legacy tools and outdated processes, creating massive inefficiencies. As such, manual payment processing issues are the top priority, but 94% of respondents to an IDC survey show a lack of full adoption of utilizing straight-through processing (STP).
This document examines the pressures driving AP departments to adopt automation as a bridge to mitigate risk and improve overall efficiency. Further, the document explores how the AP automation of today is evolving to become the autonomous AP of tomorrow.
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