Accounts Payable(AP) automation may be defined as the amalgamation of detailed complex process knowledge and advanced technology to automate and derive efficiency. According to a recent Hackett Report, the top performers are processing over 40,000 invoices per person per annum, whereas laggards are processing less than 10,000. …

Artificial Intelligence has become a rage in modern times. With applications touching every aspect of human life from business to leisure, this new-age phenomenon is sure to set the stage for the future of technology. That being true, it is of grave importance for large enterprises, especially in businesses, to…

AP evolution: The changing perception After years of half-baked attempts, accounts payable departments are finally making transformation a top priority. Gone are those days when the AP department was considered a tactical back-office function where organizations thought of them as cost centers and saw no competitive advantage. Instead, the Accounts Payable (AP) department has become…

Source to Pay is a complex initiative that can make or break your bottom line, depending on how you approach it. Why automate your procurement process? The answer is as simple as it sounds — it makes things simpler. Of course, any kind of change can be difficult. …

Introduction Having an automation solution for Accounts Payables (AP) can be a game-changer in most companies. According to Gartner, “by 2020, more than 50% of global companies will have fully digitized their AP department making it possible to reduce the payment processing time by over 75%. However, while some organizations are…

Pray and Spray Era: Eons ago, our demi-gods were known to possess superhuman powers. Greek mythology or the Hindu pantheon; the stories are resplendent with powerful weapons gifted to them by the Gods. Gods would shower these blessings to only a handful of chosen ones. …

Every CPO’s main priority is to alter the procurement process from order to payment. However, no two peer-to-peer transformations are alike. According to a McKinsey and University of Oxford study, large IT projects go 45 percent over budget and 7 percent beyond schedule on average, while generating 56 percent less…

When COVID 19 hit us, we were unprepared for the challenges it brought about. Be it something as easy as getting contracts signed, to something as complicated as inventory management, they all brought one thing with them, the question of “How do we do this now?”. …

Advantage Source-to-Pay(S2P) The Source-to-Pay(S2P) process begins with identifying and evaluating relevant suppliers, contracting with those suppliers, placing orders, monitoring the supply of the ordered products and services, authorization, and the final release of payment. A Source-to-Pay cycle is a holistic approach that covers end-to-end procurement lifecycle. The automation of the S2P process…