March 2021: Automation in focus

April 9, 2021

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The Case for Automation

With business picking back up and staffing levels down for many AP organizations, it’s time for a new take on your processes. What better time to reevaluate your automation options?

Metric of the Month

IOFM benchmarking data indicates there has been a steady increase in electronic invoice submittals over the past three years. With many finance teams still working from home, we can expect that trend to increase even more in 2021. How well is your AP team equipped to handle the processing of electronic invoices?

Invoice Volumes on the Rise

According to an IOFM survey, businesses are rebounding after the hit they took last year due to COVID. Both invoice volumes and AP spend are now increasing for 40 percent of respondents. If that trend continues—and it’s expected to—organizations need to be ready to handle the increased workload, either through staffing up or automation. 

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NEW Virtual Workshop: Maximize Your Automation Investment

With invoice volumes expected to continue increasing in 2021, an additional challenge facing financial operations professionals is how to get the best ROI from your company’s automation investment. A new in-depth workshop addresses this at IOFM’s Financial Operations Summit.

Register Today

 

 

The Cloud—What Is It?

There’s a lot of talk these days about “cloud technology,” but what exactly does that mean and how does it relate to accounts payable? In this article, we discuss how it works, its benefits, and how it can be leveraged by AP departments who are looking to automate, especially teams that are teleworking.

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Is It Time for a P2P Tune-Up?

Automation is a necessity for a well-oiled P2P operation, offering numerous benefits in addition to improving efficiency. Not only can a technology-enabled P2P function save money, it can also help you build better supplier relationships and position you for growth.

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