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Why are expense analytics essential for growth of a company

Jyothi Rathod

Posted on 22 June, 2022

Turn leaders into business spend automation champions

Businesses need to manage Accounts payable (AP) efficiently to optimise costs, improve cash flow and build valuable supplier relationships. AP and finance managers are aware of the benefits that automation brings. According to a PWC survey on critical CFO priorities, transforming business processes such as AP remains high on the CFO agenda.

But before an automated AP invoicing project can hit the ground running, AP practitioners need to secure buy-in from the executive team. A significant hurdle to automation that AP departments face is, the belief that current manual and semi-automated processes are working well. And if it is not broken why fix it?

Some businesses may have implemented existing ERP and accounting systems which creates a status-quo mindset, as many executives are weary of taking on projects that need integration with current ERP systems.

Turn leaders into business spend automation champions

Businesses need to manage Accounts payable (AP) efficiently to optimise costs, improve cash flow and build valuable supplier relationships. AP and finance managers are aware of the benefits that automation brings. According to a PWC survey on critical CFO priorities, transforming business processes such as AP remains high on the CFO agenda.

But before an automated AP invoicing project can hit the ground running, AP practitioners need to secure buy-in from the executive team. A significant hurdle to automation that AP departments face is, the belief that current manual and semi-automated processes are working well. And if it is not broken why fix it?

Some businesses may have implemented existing ERP and accounting systems which creates a status-quo mindset, as many executives are weary of taking on projects that need integration with current ERP systems.