As organizations recognize the value of invoice automation to drive efficiencies and lower costs, many discover that a narrow scope can limit the potential benefits.
Ariba is sponsoring a white paper that examines why organizations have only limited success automating parts of the invoice process without fixing the whole. Taking a myopic approach can lead to the following problems:
High costs in account payable from handling exceptions and manual approvals;
High costs in procurement dealing with invoices that AP pushes to them for exception management and error handling;
Failure to record liabilities in the correct accounting month;
Over-spent budgets, improper coding of future invoices.
What are some of your major challenges in invoice processing? Share them with me and I will make sure that we address them in the upcoming report.