According to Ardent Partners, the average processing time for invoices is over 10 days, however, best-in-class organizations who are leveraging procure-to-pay automation systems take only 3 days. The same study found that these best-in-class organizations are also saving over $11 on every invoice that they process.
These are just a couple of benefits procure-to-pay automation can provide for organizations. This white paper focuses on the drive for implementing a third-party P2P solution and integrating it with Oracle.
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Organizations are beginning to realize the importance of vendor management, with it amongst the top procurement initiatives for 2021. Those that have already prioritized vendor management, are experiencing a number of improvements in areas that include supply chain efficiency, vendor relations, compliance, and risk reduction.
AP and finance teams that are already leveraging RPA are experiencing powerful benefits across a number of dimensions including reduced costs, improved compliance, quality/accuracy, and productivity.