Many organizations work like pantomime horses. The front part is blind to what is behind it and the later parts wobble along with it. An absence of inter-functional communication, information sharing and collaboration causes hurdles to growth. It restricts an organization from implementing an enterprise-wide strategy in a unified manner. Many functions, when not viewed as strategically important, tend to operate in silos, thus failing to yield as per their fullest potential. Lending greater visibility to such functions and their true integration with other functions can deliver advantages that are unimagined hitherto.
Accounts Payables (AP) is one such area. Although ignored by many, AP has the potential to provide strategic inputs to multiple core functions. A fully automated AP function can unleash its collaborative potential with other core functions and deliver tremendous cost and knowledge efficiencies to the whole organization.
Some statistics on AP Transformation:
In this whitepaper, we will discuss how Accounts Payables (AP) department can support and transform other core business functions by communicating and working closely with them.
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