5 Things You’re Missing if Your AP Automation Solution Doesn’t Have Predictive Analytics
What constitutes a “high-performing” AP department? It’s in the numbers.
Benchmarks are often based on specific metrics like how much it costs to pay each invoice, staff time spent processing payments, or the length of the payment cycle – how long it takes to move an invoice from receipt to payment. These metrics are useful, but they tell only part of the story. Without true analytics, AP invoice processing isn’t providing its full value to the business.
When data insights are applied to AP automation, attention can be shifted from tactical benefits to more strategic ones. Access to data intelligence can help organizations optimize their working capital, improve the ability to meet contractual obligations, and fuel process improvements.
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