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The use of AI and machine learning means that businesses can harness the power of technology to dramatically reduce costs, anticipate issues and automate billing and financial transactions. This allows accountspayable teams to focus on more strategic activities. As well as a marked improvement in supplier satisfaction.
The survey showed nearly 60% of the management companies have already adopted an accountspayable (AP) automation solution while 21% are considering or researching a solution. Paying bills, paying vendors and keeping the cash moving are high-frequency transactions. We can use technology to increase member engagement.”
Thirty-six percent of survey respondents are focusing investments on automation, including accountspayable (AP) solutions that replace manual back-office processes like invoice processing and bill pay that are critical to operations. Where are companies putting their technology investment dollars?
Thirty-six percent of survey respondents are focusing their investments on automation, including accountspayable (AP) solutions that replace manual back-office processes like invoice processing and bill pay that are critical to operations. Where are companies putting their technology investment dollars?
For more information about how automation can fortify your organization, download our whitepaper, “How Middle Market Finance Teams are Preparing for a Recession.” Automating the tasks frees staff for more strategic, satisfying work and often enables facilities to handle greater workloads without additional hiring.
Investing in automation technology, such as accountspayable (AP) software, helps AP staff reduce manual tasks like invoice processing and bill pay. For more information about how automation can fortify your business, download our whitepaper: “How Middle Market Finance Teams are Preparing for a Recession.”
While the construction industry has never been an early adopter of technology, it’s increasingly turning to innovation to modernize and improve workflows — from using drones for better visibility to cloud-based accountspayable (AP) tools for better processes. Automation, specifically, is top of mind for many.
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