I was recently speaking to a Finance Director and he told me how he had become the company’s most expensive chauffeur. He had to physically drive to the office to collect the company’s invoices and shuttle them around to employee’s houses to get the appropriate approvals. His situation is not unique. We’ve heard how the pandemic has put many finance teams under significant pressure. Outdated and manual AP processes simply were not designed for remote working environments.
While most finance and IT leaders agree that the pace of digital transformation is speeding up in a post-pandemic world, recent research with Oxford Economics shows that the number one barrier to change is the perception that its difficult to digitise manual processes. It doesn’t have to be a daunting process or slow you down.
We’re looking at the common challenges within invoice processes – and how AP automation helps solve them – in an insight-packed series of 20-minute lunchtime talks from 14 June 2021. We want to support you with insights into the top questions and hurdles we typically hear – from using AI and machine learning to take away data entry and support remote working, through to simple integrations with your finance processes.
What Would You Like to Find Out More About?
1. Using AI to automate data capture accurately
Did you know an AP person typically has to “touch” an invoice 10 to 15 times to get it captured, reviewed, processed and paid? That can significantly stall the process and slow down the time it takes to get invoices paid.
What if you could cut down the time and touches it takes to progress invoices while ensuring high levels of accuracy? That’s where AI and machine learning in the AP process can help.
Sign up for How to Use AI to Automate Your AP Process.
2. Combating invoice fraud, enhancing compliance and minimising errors
When the AP process is manual, mistakes are bound to creep in. In fact, reducing human errors and inaccurate entries is one of the top pressures driving supplier invoice initiatives.
And when the process is manual, spotting invoice fraud and driving compliance is difficult too – you lack the visibility and the time.
Invoice automation can give you that time and peace of mind back by automatically flagging duplicate invoices, helping you spot fraudulent spending and ensuring a smoother month-end.
3. Streamlining international AP processes
For multi-national businesses or those thinking of expanding, the complications of cross-border invoice processes and regulations move to another level. You need a business-wide perspective, but connecting disparate systems can present a data visibility challenge.
AP automation with SAP Concur solutions gives you a single system, localised for currency, language and local tax rules to give you the single view you need.
Book your spot on AP Automation for International Businesses.
4. Making “AP anywhere” a reality
This time last year, most of us assumed we’d go back to the way things were eventually. Now we know differently. Remote and hybrid working is here to stay. So if you applied a ‘sticking plaster’ to your AP process last year, you know you need to find a permanent fix. AP automation gives you the solution you need to empower employees to manage invoices from any location.
An AP Automation Toolkit to Get You Started
As well as bringing you expert insights in our series of talks, we’ve also compiled a collection of helpful resources as you embark on your AP automation journey.
You’ll get access to:
- A step-by-step AP guide that shows you 7 ways to make the invoice process efficient for finance and employees alike
- A supplier invoice policy template plus tips for creating or updating your invoice policy
- A guide to what a truly automated AP process looks like and how it helps
- An independent report on the business value of AP automation and how much time and money it could save you
- A comprehensive overview of what to look for when choosing invoice software in our AP automation buyer’s guide
- A look at the 10 key features and benefits of automation with Concur Invoice
Support for Every Step of Your AP Automation Journey
AP automation supports the AP team and helps make it more efficient. By extension, this means AP is better equipped to support the wider business. When you’re ready to digitise your AP processes, we’re here with the resources and experts you need. Join any of our AP Automation Unpacked lunch sessions or download the AP Automation toolkit to take the first step.