Transforming AP: Collaboration Connects AP to Strategic Business Processes
Many organizations work like silos. An absence of inter-functional communication, information sharing and collaboration causes hurdles to organization’s growth. It restricts an organization from implementing an enterprise-wide strategy in a unified manner. Many functions, when not viewed as strategically important, thus fail to yield as per their fullest potential. Lending greater visibility to such functions and their true integration with other functions can deliver advantages that are unimagined hitherto.
Accounts Payables (AP) is one such area. AP has the potential to provide strategic inputs to multiple core functions. A fully automated AP function can unleash its collaborative potential with other core functions and deliver tremendous cost and knowledge efficiencies to the whole organization.
- AP - Procurement synergy and its benefits
- AP – Finance synergy and its impact on Financial Planning
- AP Automation as a lever to an Integrated AP, Finance and Procurement function