Several layers of today’s accounts payable (“AP”) function have gone unnoticed in recent years. As modern organizations continue to look internally for competitive advantages, they will soon realize that taking a strategic approach towards more tactical measures, such as those inherent to AP, can drive considerable value beyond basic cost efficiencies. In the contemporary business world, organizations have access to multiple technologies that can propel internal strategies and programs. If this notion is extended to AP, it can revolutionize how the function is perceived and boost its strategic impact by unlocking the value of this once back-office unit.
The time is now for businesses to rethink and retool their accounts payable functions. There has never been a more ideal time than today for the AP function to become a truly strategic piece of the average company. AP now has the potential to become:
- A hub of financial and operational intelligence
- A strategically valuable business partner for treasury and procurement
- A vitally important business function that enhances overall competitiveness
AP is well-positioned to evolve well beyond its tactical roots, especially in the face of new technologies and new business realities. Innovation has created an environment for AP to ditch its back-office past and emphasize its strategic value. This does not, however, mean that the journey to strategic relevance is easy; rather, getting there will require a combination of technology, talent, and data – each working in concert.
The three key elements of AP’s transformation for the 21st century include: automation of key accounts payable (and finance) processes, analytics-led strategies for transforming data into intelligence, and a “new wave” of talent that can help propel the AP function into a new, strategic world. Join us for a complimentary webinar on September 27 (sponsored by Concur) that will help your business understand how these three attributes can transform accounts payable in the months and years ahead.
Andrew Bartolini, Chief Research Officer, Ardent Partners
Christopher J. Dwyer, Research Director, Ardent Partners
Matthew York, Research Analyst, Ardent Partners
Transforming Accounts Payable for the 21st Century:
Automation, Talent, and Intelligence
Date: Tuesday, September 27, 2016
Time: 2:00 PM – 3:00 PM ET
Webinar sponsored by Concur