Accounts Payable

The APIA Secret Sauce: Ingredients for a successful AP Transformation

AP transformation is not a new concept in these times. However, Accounts payable teams have long strived to manage the quality of their programs through ERP controls and reporting functionality. But ERP controls are designed around configuration rules and access rights; they do not assess the quality of transactions, nor are they built to assist finance teams in driving process improvements.

The resulting reality was when AP professionals spent countless hours combing through reports and data. Furthermore, this was an attempt to find anomalies (often with little to show for their effort).

Enter, AI and with it, the ability to automate the accounts payable process and layer technology across the P2P landscape to continuously monitor every transaction, examine every vendor, check every purchase order, audit every invoice, and scrutinize each payment.

The secret sauce: A touch-less accounts payable process 

Imagine if you were able to work in a “touchless” accounts payable department. The “touchless” AP transformation process utilizes a combination of Procure to Pay (P2P) automation and accounts payable best practices. Examples of P2P automation enablers that lead to a “touchless” accounts payable process include:

  • eProcurement.
  • A supplier portal with self-service onboarding.
  • eInvoicing with general ledger interface.

Hence, the “Touchless” AP  transformation process isn’t too difficult to achieve! Additionally, A savvy account expected leader should have the strategy in place to move to a paperless environment.

Read the full white-paper here

Read to access –

1) NASA – A Case study

2) The Secret sauce: A touch-less AP process

3) Applying the secret sauce

4) Overview of components to enable the “touch-less” AP process.

5) Realizing the benefits

6) Five ways that AI can impact AP

7) Activities in the Finance Function that you can automate

Vaibhav Vaidya

Published by
Vaibhav Vaidya

Recent Posts

Creating a better procurement function — one user, at a time

“Grudin’s law: When those who benefit are not those who do the work, then the…

2 weeks ago

Zycus hosts Virtual Hackathon- Hackerfest

Hackerfest 2021 was more than absolutely a two-day event that brought together developers, thinkers, designers,…

1 month ago

5 Key Benefits of Source-to-Pay process Automation

Advantage Source-to-Pay(S2P) The Source-to-Pay(S2P) process begins with identifying and evaluating relevant suppliers, contracting with those…

2 months ago

Key Takeaways For Reimagining Procure-to-Pay Process

When COVID 19 hit us, we were unprepared for the challenges it brought about. Be…

2 months ago

What Procure to Pay (P2P) Transformation Vendors Don’t Tell You?

Procure to Pay transformation is the topmost agenda for every CPO. However, no two P2P transformation…

2 months ago

5 Key Accounts Payable Challenges and Solutions

Accounts Payable teams often have to walk a thin line between maintaining a strong supplier relationship…

2 months ago