5 Signs your AP Automation could be more efficient
A Talk by Ryan Kreuger (Senior Enterprise Sales Engineer, Vic.ai)
Broadcasts 31 March 2023, 03:00 PM
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About this Talk
Even in this digital age, the majority of AP teams are only semi-automated or have no automation at all. The majority of finance teams report spending unnecessary time processing invoices and making supplier payments every month. This extreme time suck is made worse by manually performing AP-related tasks that should be automated, such as payment approval and execution, PO matching, onboarding new vendors, and payment reconciliation.
Solutions like RPA operate on workflows defined by the AP team - requiring constant updates - and are unable to execute decision-oriented tasks. If your AP process relies on rules, templates, and exceptions, it’s time to break the rules and push the boundaries toward intelligent accounting. By delegating AP-related tasks to advanced AI algorithms, finance teams can reduce costs and stress less about bolstering their team to perform template training, manual coding and approvals, and exception handling.
In this discussion, you’ll learn how to:
- 5x productivity by simplifying AP
- Create an agile finance team structure
- Reduce costs by leveraging real-time insights
- Eliminate unnecessary errors