White Paper | How Payment Automation Solves the Top 5 Accounts Payable Challenges
With future revenue growth potentially harder to come by, businesses are focusing on ways to grow their profit margins. And many are locking in on a seemingly unlikely target for profit growth — payment automation.
Traditional accounts payable functions have long been perceived as a cost of doing business. But with payment automation, AP can help drive profit-boosting strategic initiatives such as spend management, compliance and risk management, as well as one of the biggest keys to business — increased working capital. For these reasons, businesses are adopting electronic payments to achieve their goals.
Backed by solid research from the Institute of Finance & Management, this white paper covers the latest trends in e-payments adoption, detailing how manual invoice payments contribute to the top five AP challenges, and how payment automation can help solve them.