For organizations with multiple entities in different locations, decentralization of finance functions results in complexity, duplication of resources, and a lack of visibility over financial processes.
Centralizing finance functions is an effective solution for standardizing processes, reducing overheads and labor costs, and obtaining a clear view over the whole organization. Automating procure-to-pay processes allows organizations to reap additional benefits including improved control over spend, faster invoice processing times, and enhanced employee productivity.
Centralizing and automating finance leads to significant benefits, including standardization, the elimination of duplicated tasks, and a reduction in labor costs by up to 80%. This paper outlines how to achieve these results while overcoming the challenges of internally centralizing finance, including change management.
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Business processes in the healthcare industry often involve more complexity and risk than in other sectors and requires a great deal of accuracy in order to keep sensitive information secure and costs down. This white paper serves as a guide on the drivers for implementing AP automation and the value it adds to the hospital supply chain, ensuring tangible results including 86% increase in productivity.