Accounts Receivable Management Featured Article

Hackett Group White Paper: The Significant Technological Breakthroughs that are Overcoming Barriers to AP Automation

February 12, 2014

Kofax, Inc., a company that has solutions to help drive better business outcomes with studies about key trends in AP Automation, has announced the availability of The Hackett Group white paper, "Accounts Payable Automation: Five Technology Advancements Helping to Break Down Adoption Barriers." To download the report, interested parties need to complete an online registration form. Once registered, Kofax will release the paper that can be simply downloaded.   

The white paper from The Hackett Group, a global strategic business advisory and operations improvement consulting firm, provides visibility into key trends, including the tools and technologies that exist for accounts payable (AP) automation. It also provides information on what are the expectations around automation cost savings where technological breakthroughs have reduced the total cost of ownership. The report, for example, explains how e-invoices, which have replaces in many cases paper ones, have given a positive ROI right away.

What’s more, the paper examines the compelling reasons that lead companies towards AP automation. Barriers (like prohibitive costs for smaller companies) that were hindering the implementation of automation and optimization of AP processes have, in fact, been removed by technology. The report discusses key recent technology innovations (as well as future technology considerations) that have likely been the reason for this upswing in exploring the field of Accounts Payable Solutions. It also reports which tools are the most effective to ultimately provide a new satisfaction level of AP without the need for major capital investment to support it in the long-term.

The five technology advancements covered in the report include:

  • An AP workflow software solution built on best practices
  • A SaaS (News - Alert)-based AP automation solution for adding functionality to an existing ERP system
  • A business-driven AP automation solution via an EDI feed
  • An AP automation and SOA-Workflow solution
  • A solution for using mobile devices within invoicing and AP automation applications, and the need to integrate mobile devices with AP processes

In addition to getting a good insight on these topics, there is a whole lot more that readers can learn from the whitepaper, including the strategic impact of AP automation to the organization for better cash flow control and enhanced control over payment timing. As well, the report provides insight to some other AP automation benefits: how it is cost-efficient, fast, flexible and easy to implement.

Given this interest in AP automation solutions, the paper aims to illustrate that an investment in AP automation (which just so happens to be another whitepaper) and utilizing technology advancements can streamline invoice preparation, lower the cost per invoice, simplify and reduce the invoice processing too. Most of all, this free white paper offers a roadmap to success: to help those interested turn AP into a valued asset for their business. It gives awareness of the barriers to invoice automation and conveys how to overcome them. And yet, such a report can help one get more value from AP automation by it rendering a successful Accounts Payable Department that can provide the means to reduce the costs and hassles in handling lots of invoices.




Edited by Cassandra Tucker

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