If the stubbornly high number of organizations that process invoices in a manual or semi-automated environment has proven anything, it's that many accounts payable leaders still struggle to articulate the value of automation and justify the expense and time to senior management. Many helplessly watch as their automation budgets are slashed or their automation projects are rejected or postponed.
Businesses cite numerous reasons for continuing to rely on manual or semi-automated accounts payable processes, including a lack of capital budget, too many competing priorities, a lack of IT and/or departmental resources, and no senior-level champion. But the primary reason that many accounts payable departments have not automated their invoice processing is that they do not know how to build a convincing business case for automation. This white paper addresses that challenge by using benchmark data from the Institute of Finance and Management (IOFM) to show the six areas where automation pays the biggest dividends. Focusing on these areas in your business case is sure to win senior management approval for deploying an automated accounts payable solution.