The Accounts Payable (AP) process is one of the most important transactional F&A processes, as it directly affects cash outflow and vendor and employee satisfaction. However, the AP process is mired in challenges including payment delays, high processing costs, and cash leakage due to erroneous or fraudulent transactions. Given AP’s high maturity and the multiple next-generation technologies in play, it is also the best suited for digital transformation.
This paper will help CFOs, controllers, and enterprise F&A executives, who are looking to validate current challenges with the AP process, build a business case for a transformation initiative, and understand the role of next-generation digital levers & traditional process levers to achieve AP transformation.
In this paper, Everest Group discusses the following topics:
The leading challenges in the AP process from the perspective of vendors, employees, and the F&A operations team
The need and business case for AP transformation
The means to achieve AP transformation and the key technology levers that play a major role in this journey
The operating models through which transformation can be achieved
