AP Automation: Building a Successful Business Case
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It is the responsibility of the AP and Finance Managers to demonstrate how AP automation will not only benefit the AP department, but translate into benefits for the entire organization.
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AP Automation: Building a Successful Business Case
- 2. CURRENT STATE OF ACCOUNTS PAYABLE …
- 3. 39% surveyed use manual methods (e.g., Excel spreadsheets, etc.) for data collection, calculations and reporting. (Institute of Finance & Management) of AP professionals surveyed stated paper-based invoices account for 90%+ of their total volume. (Institute of Financial Operations) One-third of finance executives CURRENT STATE OF ACCOUNTS PAYABLE …
- 4. WHERE AP AUTOMATION FITS IN
- 5. AP automation fills in gaps left by ERP/business applications that create challenges like: Trouble accurately capturing data regardless of invoice format Lengthy invoice processing impeding staff productivity Limited analytics, reporting and audit trail capabilities Excess paper, transportation and physical archiving costs WHERE AP AUTOMATION FITS IN
- 6. AP AUTOMATION IS MORE THAN A WANT ...
- 7. AP AUTOMATION IS MORE THAN A WANT ... It’s a NEED!
- 8. AP AUTOMATION IS MORE THAN A WANT ... It’s a NEED! It capitalizes on valuable opportunities currently being overlooked.
- 9. But you already knew that.
- 10. But you already knew that. It’s why you’re here.
- 11. Because you are ready
- 12. TO build a business case for AP automation. Because you are ready
- 13. First things first …
- 14. First things first … DEFINE YOUR OBJECTIVES.
- 15. DEFINE YOUR OBJECTIVES. First things first … What phase(s) of AP do you want to automate? What type of solution do you want to use? What challenges are you looking to overcome? What benefits are you hoping to achieve?
- 16. Having clear objectives provide GUIDANCE & DIRECTION
- 17. throughout the research process and presentation. GUIDANCE Having clear objectives provide & DIRECTION
- 19. Back up your business case with measurable data for c-suites to justify their decision. Next step … RESEARCH!
- 20. should your business case speak to? What stakeholders
- 21. should your business case speak to? What stakeholders … And how!?
- 22. stakeholders in your AP automation project are: THE THREE MOST Influential
- 23. stakeholders in your AP automation project are: THE THREE MOST Influential C-suite/executive management IT management AP team members
- 24. C-suites & Upper management care about:
- 25. C-suites & Upper management Profitability & the bottom line Visibility & cash flow management care about:
- 27. is concerned about: IT MANAGEMENT Ease & cost of implementation Software security & business continuity
- 29. AP TEAM MEMBERS want: An electronic workflow Job security & low learning curve
- 30. Stakeholders’ interests and you’re sure to start gaining their support. Speak to
- 31. Stakeholders’ interests But don’t get too COMPLEX. and you’re sure to start gaining their support. Speak to
- 32. comprehensivE business case is the key … A clear &
- 33. comprehensivE to propelling your AP automation project to the TOP OF THE LIST! A clear & business case is the key …
- 34. Find everything you need to build a successful business case by Downloading the white paper “Building a Business Case for AP Automation”
- 35. Find everything you need to build a successful business case by Downloading the white paper “Building a Business Case for AP Automation” DOWNLOAD NOW!