Poor cooperation between finance and procurement is costing you money.
If these two departments can’t collaborate, you can’t tell how much to pay your suppliers—or what you’re paying for. And that can get expensive.
40% of companies say this terrible teamwork is draining cash.
Not enough, as it turns out. And if you’re not talking, it’s not working.
Bad relationships aren’t great for business.
The solution requires AP automation across procure-to-pay, covering everything from risk and supplier management to compliance and contracting. It also requires support all the way from source to pay— with every digit of spend and process data in one cloud solution, where finance and procurement teams can come together to control costs, cash and compliance.
In the next three years, finance leaders want to get to full digitalization of AP? How will they get there? By moving beyond basic automation and using artificial intelligence to do the work – so invoices get coded, approved and paid, and AP teams get to go home and rest easy.