Next-Generation Accounts Payable with AI-Led Automation

Accounts Payable (AP) functions, for long, have struggled to scale and “do more, with less” owing to legacy software tools (e.g., OCR engines) and manual AP processing. Here are some alarming statistics from the Institute of Finance & Management (IOFM):

• Only 5% of PO-to-invoice matches are 100% accurate on the first try.
• 33% of organizations have more than 1% duplicate payments.
• About 25% of organizations have more than 10% of transactions requiring correction.

Given the ongoing economic downturn, AP functions need to drive cost efficiency, modernize with artificial intelligence (AI), and scale as per business requirements with minimal investment. Next-generation accounts payable is focused on delivering:

• A compelling user experience (UX) to AP analysts and managers
• Greater straight-through processing (STP); reduced human intervention
• Better supplier communications
• Smart processing of non-PO invoices
• AI-powered anomalies & fraud detection
• Procurement-AP synergy: from AP to P2P (procure-to-pay) processes.

Join this webinar to gain practical insights into how to realize a next-generation AP function using AI-led automation. As an accounts payable/finance leader, you will benefit from practitioner point of views on how to:

• Do more, with less: scaling AP & driving cost efficiency with minimal new investment.
• Modernize AP with AI and evolve to paperless invoice processing
• Achieve synergy between procurement and AP/finance functions.
• Balance People, Process, and Technology aspects of AP transformation.

Mark Brousseau
President, Brousseau & Associates 

Over the past 26 years, Mark Brousseau has established himself as a thought leader on accounts payable, accounts receivable, payments and document automation.   A popular speaker at industry conferences and on webinars and podcasts, Brousseau advises prominent end-users and solutions and services providers on how to use automation to improve document- and payments-driven business processes.  Brousseau has chaired numerous educational conferences and has served on several industry committees and boards.  He resides in Center City Philadelphia with his wife and three sons.

Canda Rozier
Director, Product CPO, Procurement Evangelist

Senior global procurement and operations executive with strategic sourcing/procurement and real estate transformation expertise. A progressive career with multinational companies in the financial services, payments, technology and security industries. Proven leader in designing and executing sustainable processes and operational improvements. Her expertise includes Enterprise Procurement/Strategic Sourcing, Vendor Management, Cost Reduction and Savings Initiatives among many others.

Richard Waugh
Vice President, Corporate development, Zycus

Richard leads strategic initiatives in the areas of new product introduction, market development, thought leadership, analyst relations, and strategic partner development programs. Richard has an extensive background in B2B eCommerce, going back to his early career at GE, where he helped launch GE’s Trading Process Network (TPN), the first on-line marketplace for sourcing and procurement in the mid 1990’s. He had been a co-founder of B2eMarkets, one of the first SaaS (Software as a Service) Sourcing Suite providers and later covered the Supply Management market as an industry analyst for the Aberdeen Group. Prior to joining Zycus, he helped bring to market new innovations in P2P (Procure-to-Pay), helping global clients achieve world-class P2P system adoption and performance.

James McAllister
Managing Director, KPMG

James is a consulting executive with over 15 years’ experience leading global transformation programs including organization design, operating model design, business process improvement, and technology enablement across the following areas: master data management (MDM), spend analytics, inventory optimization, category strategy planning, strategic sourcing, contract negotiations and management, supplier lifecycle management (SLM) including risk and performance management (RPM), contract lifecycle management (CLM), purchase requisition and order processing, and invoice processing and reconciliation, and payables. He brings experience across a wide range of industries, including life sciences, financial services, retail, and industrial and manufacturing. He is an implementation partner with multiple Source to Pay technology solutions such as Zycus, as well as many point solutions. James’ clients have achieved results such as $30M savings in year 1 post go-live with 80% electronic invoices, 95% first time invoice match rate, and invoice cycle times less than 1 day. Feel free to learn more about James here.