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The Case for Accounts Payable Invoice Automation
Gartner’s recent report, “Win Big by Starting with High-Value, Low-Risk Procurement Applications,” states that global economic uncertainty caused by COVID-19 is forcing application leaders to rethink their future investment strategies.
Given that no vendor can provide a highly integrated, deeply functional, end-to-end solution and that large suites carry slow time to value, it may make sense for application leaders to start small and deploy best-of-breed modules that deliver a quick return on investment (ROI). For instance, contract lifecycle management and accounts payable invoice automation (APIA).
Build momentum for future projects and drive immediate ROI
APIA touches many finance and treasury processes. These areas have specific needs and therefore specific vendors that focus on the needs of those processes. These specific vendors often outperform source-to-pay (S2P) suites with a more upstream orientation.
APIA projects can be completed in under six months and drive a large ROI due to high levels of document automation and error reduction. A good example is the automated capture of invoices via emailed PDFs to an email address versus a person scanning a paper invoice. This eliminates the need for site-specific activity and reduces business risk during events such as COVID-19, when personnel may not have access to the mailroom to collect paper invoices.
So how does this work in practice?
Find out more in the on-demand webinar
Download the webinar and watch as featured Gartner analyst Micky Keck and Basware VP of P2P Product Management Sami Peltonen address topics such as:
How you can achieve quick wins with investments that provide an immediate return.
How starting small makes the onboarding process easier
Why training each user group based on how they are involved improves adoption
How to approach each stakeholder’s and user group’s unique challenges
See why Gartner proposes a multivendor strategy and suggest focusing on APIA.
Download the on-demand webinar now.