Date : 30-Oct-2020
Location: Global
Organization:
Kofax, Intelligent Automation helps you digitally transform your organization's most important, information-intensive workflows at scale.
Key Takeaways:
- Using Analytics to Become Top Performer and Future Proof your AP Organization.
- It’s a never-ending story for accounts payable (AP). You’re under pressure to lower costs, but manual paper processes, poor cash management and weak controls create unproductive, labor-intensive operations.
Offerings:
Kofax AP Agility,an AP invoice automation solution, helps to reduce costs, speed processes, improve quality and strengthen internal controls - with features ranging from basic OCR data capturing,customizable approval workflows to pre-built integrations with ERP connections.
The benefits are:
- Lower costs
- Get rid of manual paper processes
- Improve cash management
- Reduce labor-intensive operations
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| Automation yield positive enterprise sentiment |
Spokepersons:
Zakir Ahmed, Senior Vice President and GM, Asia Pacific & Japan at Kofax.
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| Zakir Ahmed, Kofax |
Insights:
High performing companies make significantly better use of information and analytics to gain visibility and strategic insights that drive their performance.
Best Practices:
Future proof their AP organization :
- Centralization of AP processes :
- Creating a single connection point to send and receive E-Invoices
- Implementing supplier master data standards
- Standardizing global supplier payment terms
- Deploy predictive model.
- Ensuring compliance across the board covering all suppliers.
- Creating simple real-time dashboards (scorecards, KPIs) via automation - provide AP leaders. with on-the-fly access to information.
Editor's Comments:
When you are receiving too many invoices, you will need a system to enhance the performance of your Accounts Payable team.
Comments