IOFM's 2021 Maximizing Your Automation ROI Report
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What separates world-class AP teams from everyone else is a simple concept: process consistency, enabled by automation.
However, a recent IOFM study of more than 200 AP departments showed that an alarming number of AP teams have automated without focusing on process standardization. More than three in five (62%) AP departments have yet to complete at least one of the five foundational process steps, and yet the vast majority (77%) have already invested in automation.
The key to maximizing the inherent efficiencies of technology is to fix your processes first, enabling your IT investment to make good, consistent processes even better.
This report, the first in this year's series of Benchmarking Reports, focuses on a prescriptive approach to process improvement.
IOFM's annual Benchmarking Reports are one of the many exclusive benefits of IOFM Membership. For a limited time only, we are offering this Members-only report for free at the conclusion of a 5-10 minute demo. Simply fill out the form on this page to get started — an IOFM Training Advisor will reach out to you.