PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

The Evolving Role of AP Within Organizations

By Adam Frazier
January 5, 2016
in Industry Opinions
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

What are the main problems and challenges facing accounts payable? According to a recent report by Ardent Partners entitled “ePayables 2015: Higher Ground,” most organizations cited issues like exceptions, lack of matching information, lack of visibility into data and high invoice processing costs as just a few of the biggest challenges they are facing.

All of these issues can be traced back to one thing: paper. An automated process can reduce those exceptions, eliminate or call to attention the lack of matching information, give greater visibility into the whole process and reduce the high costs associated with processing paper invoices and payments.

But if automating eliminates paper and all of the challenges that come along with it, then what is the AP department left to do?

It’s a question we’re often asked by AP professionals themselves, worried that automating the AP process might make them less valuable to their organizations. The opposite is true: after automating, the AP team is actually more valuable.

In the aforementioned report, Ardent Partners proposes that as more companies choose to automate they will put themselves in a position to employ a “broader, more strategic objective for the accounts payable function.” They foresee AP departments playing a larger role in data, analytics and intelligence, which they acknowledge is “a sharp shift away from the cost reduction focus of years past.”

As it should be. If costs are reduced so dramatically through automation, the AP department is free to take on new responsibilities. Now, the report states, the AP team can move from a back-office role to a more strategic one by:

•

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    recurring payments, PCI Compliance for small business, Fintech for Underserved Small Businesses

    Tariffs May Create an Opportunity in Small-Business Cards

    May 15, 2025
    Using the Card “Beyond” Payments to find the Holy Grail

    Using the Card “Beyond” Payments to find the Holy Grail

    May 14, 2025
    Payments Modernization

    Playing Offense and Defense: Why Now Is the Time for Payments Modernization

    May 13, 2025
    Authorization Rates

    Boosting Revenue for Merchants by Optimizing Authorization Rates

    May 12, 2025
    Why Payment Orchestration is the key to international merchant growth

    Ensuring Payment Decisions Pay for Themselves

    May 9, 2025
    cross-border

    As Businesses Reevaluate Cross-Border Relationships, Financial Institutions Can Help

    May 8, 2025
    Nacha WEB Debit Account Validation Rule Verification Solution, Quovo ACH Payment

    The Brave New Future of the Disappearing Account

    May 7, 2025
    solana financial

    After an Upgrade, Solana is Primed to Be the Blockchain of Choice for Financial Institutions

    May 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result