White Paper
2018 Payables Insight Report by PayStream Advisors
Introduction
Given the many options for improving back-office processes, both in terms of more strategic management and software-based approaches (i.e., automation solutions), it can seem overwhelming to begin an automation initiative. However, the potential barriers to adoption should not keep any organization from beginning the journey of Accounts Payable (AP) and payments process transformation. Automating payables processes is worthwhile because the end results are increased savings, increased efficiency, an improved bottom line, and a greater competitive advantage. No organization should miss out on its chance to achieve those benefits.
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Introduction
Automating the invoice-to-payment process including accounts payable (AP) and payments processing—collectively known as payables management—is one of the most important items on the agenda for organizations when it comes to improving the back office. However, automating can seem daunting for some companies. PayStream Advisors consistently hears two questions when consulting with organizations of all types, sizes, and industries: “How do we fix processes given our current state?” and “How do we know where to start?”
Given the many options for improving back-office processes, both in terms of more strategic management and software-based approaches (i.e., automation solutions), it can seem overwhelming to begin an automation initiative. However, the potential barriers to adoption should not keep any organization from beginning the journey of Accounts Payable (AP) and payments process transformation. Automating payables processes is worthwhile because the end results are increased savings, increased efficiency, an improved bottom line, and a greater competitive advantage.
