Account payable’s influence goes beyond just making payments. There’s gold in the data contained in the invoices, useful both for one-off research as well as for gaining insight into the AP operation’s overall efficiency. It seems logical to assume that significant levels of automation can provide better and faster business intelligence — but is that true? And if so, how can that correlation help you do your job better?
Hyland and the Institute of Finance & Management partnered to create the AP Control Panel. Accounts payable practitioners rated themselves on important functional abilities (including invoice sorting and team performance) and then compared their efficiencies against their levels of automation.
The resulting whitepaper, “AP Control Panel Finds Automation Drives Operational Improvement,” discusses the findings in detail.