While this article spells out many details about AP Automation, and we highly recommend you read about all of them, here is a quick list of the topics and questions this article explores:
AP Automation Case Study
What is AP Automation?
How Do AP Departments Operate?
What are the Hidden Costs of AP Automation?
What is the ROI of AP Automation?
What are the Benefits of AP Automation?
Does AP Automation Pay? If so, under what circumstances?
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Create a customized plan including recommendations for technology and process reengineering
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Multi-Company Benchmarking Assessment Study – Objectives and Scope
Conduct a high-quality, multi-company benchmarking study of participating organizations in the Finance and Accounting function
Apply a consistent methodology with continuous communication
Collect cost, resource, volume, and descriptive data on a process-by-process basis using standardized definitions of activities and tasks to ensure “apples-to-apples” comparisons
Identify where you stand relative to CIC’s benchmark database
Present the results in a review session that enables dialogue and discussion among the organizations with some insights into best practices
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