Four AP Automation Trends for 2012

December 28, 2011  |  Invoice Automation, Research

The Institute of Financial Operations (IFO) published a nice article on trends to watch for 2012. Written by David Schmidt and Kathryn McMurry it is not very enticing. Sorry. Thankfully Julia Greeley from Recordsforce made a summary.

But it was still a bit too long for our liking. So we’ve shortened it even further. To byte size pieces. Here is your snack:

1

Automation continues to grow… and as we move forward, it should get easier.

Automation has great benefits for even the smallest AP departments – every organization will benefit from the matching and discrepancy management automation solutions offered to shorten the processing cycle, cut down on lost spend, eliminate duplicate payments and reduce the time spent on rectifying such issues.

2

AP Automation goes Mobile

There is a growing demand for mobile-based requisitions and invoice-based approvals.  With the increasing use of smartphones, it shouldn’t come at any surprise that AP-specific applications are also being developed.

3

Supply Chain Absorbs AP

 For material-driven organizations with supply chain teams, the AP function is being folded into the supply chain group, especially if the company uses e-requisitions.

AP can disappear or become fully apart of the procurement process because of the high degree of automated matching that is inherent in these solutions.

4

Employee Numbers Decline

With or without automation, controllers and upper management are demanding fewer employees.  The economy is going through a structural change, causing businesses to seek reduced costs.  Many of the slots that are left after people retire, get laid off or fired are not being filled.

With effective automation, there is less need for people to enter dates and cross-check purchase orders with invoices and delivery documents, looking for discrepancies.


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