Why You Should Start Your Finance Automation Journey with AP

Automation of finance functions is becoming increasingly necessary. Yet when deciding on the best method to advance that goal, a lot of companies opt to begin with a full P2P implementation, choosing a sequential approach to change management. 

And while it may seem logical to begin with procurement because it happens first chronologically, that transition is typically more complex and carries with it greater risk. For one thing, it generally takes much longer to implement a procurement solution than it does to automate AP because of the number of people and operations it involves. That, in turn, can negatively impact supplier relationships through payment delays that occur while things get back up to speed. 

On the other hand, automating the AP process first can yield faster ROI through improved discount capture, and it typically involves only accounts payable staff and approvers. Faster and easier implementation sends a message up the chain that automation yields positive outcomes and makes top management more likely to invest in future automation projects. 

IOFM partnered with Basware to explore the rationale for automating AP first in order to get faster results with less risk. To find out more, download the white paper “Why You Should Start Your Finance Automation Journey With AP” today.