We closed out 2019 with a blog series detailing how finance and accounting leaders—and their teams—can lead the overall business in productivity and contributions to the bottom line from the back office.
We don’t want you to stop there. We want you to lead the digital transformation revolution in your industry with AP automation!
In many cases when a firm is starting its journey towards AP automation, the finance leader asks us for a client reference with not only a similar ERP (to confirm the Yooz solution’s seamless integration) but also from the same or similar industry. We are happy to provide these testimonials.
But what if we didn’t?
Companies tend to want to be considered number one in their industry, field, or territory—the best. But they’re reluctant to be the first to try cutting edge technology. By embracing AP automation and leveraging the data housed in their AP department to support better management of working capital as well as freeing up cash to use for extending product lines and R&D, finance and accounting execs are leading their companies towards increased efficiencies and profit contributions. Why not lead your entire industry in the same way?
Companies are getting serious about automation and leveraging the wide range of technologies to choose from. It’s part of their digital transformation initiatives. As they see the benefits they become more and more excited about increasing efficiencies, reallocating resources to more value-added tasks, and sending cost savings straight to the bottom line. Not to mention mitigating financial risks and fraud prevention.
According to the IDC, 40 percent of all technology spending will go toward digital transformations, with enterprises [having spent] in excess of $2 trillion in 2019. Disruption is happening across all industries, and investment in digital transformation is essential to stay relevant and create new opportunities.1
In Part 2 of this blog series, we’ll get into more detail about how you can leverage AP automation to bravely lead the way into the Digital Transformation Age.
1White, N., 14 Digital Transformation Statistics & Why They Matter to the Enterprise, Apr 4, 2019, retrieved from https://www.ptc.com/en/product-lifecycle-report/digital-transformation-statistics Jan 2, 2020.