Leveraging automation to tap the strategic insight of your AP/AR staff

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Note from the editor

Fueled by advances in artificial intelligence, robotic process automation and intelligent document processing, the state of automated processing of the accounts payable and accounts receivable functions is lightyears ahead of where it was just a few years ago.

That’s a game changer for CFOs. Now their AP/AR staff can help add strategic value to the finance operation by using their expertise to manage cash flow and working capital. 

“AP staff aren’t just the people that are paying the bills any more,” says Jess Scheer of the Institute of Finance and Management. “They’re cash managers. They’re being asked to do more big data analytics.”

Forward-thinking CFOs are always trying to use automation to put their accounting staff out of a job. Not so they can reduce payroll; they want to free up their staff to better leverage their insight.

Given the pace at which automation technology is evolving, it’s easy for finance leaders to lose sight of how they should be scaling their operations. We hope the selection of CFO Dive stories we’ve compiled here can help you as you consider what you want your AP/AR operations to look like in the years ahead.

Robert Freedman Editor

Automation increasing strategic value of AP/AR operations

As technologies assume rote tasks, accounts payable and accounts receivable staff can help companies look ahead with cash flow, working capital projections.

• Published Oct. 22, 2021

Automation called key to improved AP compliance

The less opportunity for human intervention, the better a company’s accounts payable processing will align with internal fraud-prevention guidelines.

• Published Oct. 22, 2021

Manual AP systems cost companies up to $20 per invoice to process

• Published Oct. 22, 2021

Automation can turn AP into profit center, attract millennials

Finance chiefs are saving accounts payable costs by earning early-payment discounts, issuing fewer paper checks, catching fraud and reducing duplicate payments and other mistakes.

• Published Oct. 22, 2021

How Lush ditched manual invoicing for automated accounts payable

Before 2017, the skincare company printed hundreds of thousands of supplier invoices annually. Now 92% of invoices are touchless.

• Published Oct. 22, 2021

Leveraging automation to improve AP compliance and strategy

Fueled by advances in artificial intelligence, robotic process automation and intelligent document processing, the state of automated processing of the accounts payable and accounts receivable functions is lightyears ahead of where it was just a few years ago.

included in this trendline
  • Why automation is called key to improved AP compliance
  • Automation can turn AP into profit center, attract millennials
  • How Lush ditched manual invoicing for automated accounts payable