Digital technology has transformed the way we do business, and its presence is especially apparent in front office and customer-facing transactions. But all too often, organizations neglect the back office when it comes to paperless initiatives, and they are leaving money on the table in the form of time- and labor-intensive processes.
Enterprise organizations have led the charge in recent years to apply the same resourcefulness to their payables operations that they are already applying to their front offices. They have removed most of the manual roadblocks to accounts payable (AP) efficiency, including paper invoice processing, resulting in a low cost per invoice and more productive workforces.
Small and mid-size companies are now following suit, seeking to get a handle on excessive paper volumes. However, while the goal to reduce or even eliminate paper is a valid starting point, many companies begin the journey, but stop short of the kind of transformation that is possible with a holistic Invoice Workflow Automation (IWA) solution.continue reading »