Digital Transformation of Accounts Payable: From a Cost Center to a Strategic Asset
Succeeding in today’s digital trade and commerce environment require organizations, to process transactions more efficiently and have faster access to finance and procurement related data. Accounts Payable (AP) is one such area that can help organizations not only build resilience and adaptability for navigating times of crisis but also provide strategic inputs to drive sustainable growth.
This point of view (POV) paper from Zycus discusses the criticality & need of AP transformation in today’s business environment, challenges in maximizing the value from AP & the role of next gen digital technologies as levers to enable AP transformation. The paper outlines:
- AP evolution: Changing perceptions & roadblocks
- Digital technologies to rescue
- Impacts of AP transformation
- AP future outlook