Automating Accounts Payable for Retail
The competitive nature of the retail industry creates pressure to adopt a lean approach to delivering goods and services to customers. While there tends to be a focus on front-end process improvements, there is also a need to extend these improvements to back-end processes, particularly in accounts payable (AP) and procurement.
Traditional methods of managing the AP process result in high costs, long processing times, and slow supply chains. In order to compete with other organizations, leading retailers are implementing AP automation software and streamlining their back office functions.
The white paper details how automation can resolve the significant challenges of manual AP processes and provides examples of how organizations worldwide have automated their AP process and achieved remarkable results, including 86% increased productivity.