Manual accounts payable processes, such as contract compliance, processing invoices, vendor management and spend control, can be time-consuming, prone to human error and extremely costly for organizations.

All organizations are faced with the challenge of managing risk and in today’s climate, risk exists as the number one factor for organizations in driving change. 

Remote working has highlighted a lack of control and visibility that exists with manual AP processes and this is leading to organizations accelerating their digital transformation as they come to realize the benefits of adopting technologies for now and in preparation for a post-Covid world. 

According to The Hackett Group, cost reduction through automation is the No.1 initiative on the finance transformation agenda in 2021.

That being said, the risk of doing nothing is still the biggest challenge that all organizations face.

Download our webcast were we discuss the common challenges faced by AP teams in reducing costs and how SoftCo’s ExpressAP automation solution rapidly addresses such challenges.

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