Finance and Accounting functions are at the heart of an organisation, ensuring smooth daily operations, positive relationships with suppliers, business sustainability and success as a result. Yet, many Finance and Accounts departments are still reliant on manual processes which are labour intensive, repetitive and can be error-prone. Analysts, IDC, estimate that organisations lose 20 to 30 per cent in their revenue every year due to inefficient processes, a significant amount of money, which can be the difference between success or failure.
Intelligent Process Automation (IPA) offers a viable solution, enabling organisations to not only streamline tasks within processes including verification of supplier details, matching invoices against POs, 2-3 way matching, data extraction, validation and duplicate checks but also improve supplier relationships, benefit from early payment discounts and even significantly boost staff morale and productivity.
Why not find out more about the potential benefits of IPA for Accounts Payable (AP) by downloading Celaton’s latest eBook ‘Transforming Accounts Payable’. The short eBook details exactly what IPA is, how to audit an AP process to identify areas for improvement, as well as how to get started on a Digital Transformation Journey.