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Automation in AP, Where do I start?

documation asset coverThe use of information technology has made modern business operations possible but in many cases teams have had to adapt to the increasing complexity and rapid changes in software we have built and this is nowhere more evident than in finance departments.

As the number and complexity of systems has grown, so have the gaps between processes, and these are often filled by manual tasks such as updating spreadsheets, downloading emails or keying the same data into multiple systems to keep them all in sync. Many of these processes are linked to a physical place too, like the office, but with the onset of new remote working conditions this often means more obstacles to overcome.

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Your guide to digital transformation technology

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Becoming a Chief Future Officer for Accounts Payable

Change is hard when everything changes
These days, it seems like everything in the business-to-business landscape is changing. From new regulations to changing priorities, to new digital systems, the way businesses interact and do business with each other is undergoing a sea change. And the world of accounts payable is changing with it.

When you’re not expecting change, it can be scary. That’s because there’s an element of loss inherent in any change: what you’re familiar with is going away, and what’s ahead is unknown. And the effect on productivity that change can have on a team can be massive.

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What do customers say about Statement-Matching?

Customer Survey March 2020 Final covStatement-Matching was developed due to demand from Accounts Payable for a solution to automate what is a very tedious and time consuming process when performed manually. Having input from real users has enabled Statement-Matching to develop a solution that new customers take to very quickly because it’s easy to use and meets their process requirements.

They continue to develop the solution based on input from customers as part of their monthly service reviews and recently did a Customer Survey to get some feedback on how our customers actually use the solution day-to-day, the key benefits as the customers sees them and what they think overall about the product.

This has given input for further development and provided some useful insights, which they thought made interesting reading to anyone thinking about joining the Statement-Matching platform.

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Don’t let the lack of spend visibility blindside your working capital

WPP CFO Impact Indirect Spend Report cov2

Effective management of your working capital requires full visibility — and control — of your company spend. Learn why, and how, in The Impact of Indirect Spend on Working Capital.

To manage your working capital, not to mention forecast future outlays, full and accurate visibility of all spend, including indirect spend, is critical according to a CFO.com whitepaper sponsored by Corcentric. That’s what a robust, integrated procurement solution is designed to do; So, why do 71% of firms included in an AmeriQuest Survey still lack a procure-to-pay tool?

Download The Impact of Indirect Spend on Working Capital whitepaper from Corcentric and CFO.com to learn what procurement process issues your company may have, along with strategies to solve them.

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Some of the problems that companies have include:

• Lack of adequate knowledge of total purchase spending
• Focusing on rebates instead of negotiating for advantageous
  upfront pricing
• An oversupply of suppliers – a sign that sourcing processes need fixing 

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Please fill in the form below to access our exclusive Focus Week videos