Speaker:

Jon Hansen

Jon Hansen

Editor and Industry Expert Procurement Insights

Dr. Thierry Fausten

Dr. Thierry Fausten

Purchasing & Procurement Advisor, Informed Decisions GmbH

Bill Michels

Bill Michels

Vice President of Operations Americas, CIPS

 

When it comes to AP automation, consider the following facts:

  • 61% of companies cite rising supply-chain management costs as their number-one challenge.
  • 50% of companies say that one in 10 payments to suppliers goes out late due to manual processes, placing further stress on relationships with key suppliers
  • 97% of organizations are still making check payments to a portion of their suppliers, according to the 2019 AFP Electronic Payments Survey, and those payments are more vulnerable than any other type to fraud and costly mistakes.

Now consider the following benefits of an effective automated AP process which includes increased savings through earned rebates, better utilization of resources that frees staff from redundant, error-prone manual tasks, and greater security. Add into the equation a dramatic improvement in supplier relations, and you can readily see how AP automation can benefit your organization.

The challenge, however, is bridging the gap between today's inefficiencies and the technology's promise to build a stronger and more resilient supply network.

In this webinar, an expert panel will join Procurement Insights’ Jon Hansen to explain the following:

  1. Why organizations are still struggling with AP automation
  2. What steps they need to take to correct it, and
  3. How an efficient autonomous procurement and AP process embeds strength and resiliency into your supply chain