Historically, finance and accounting departments, particularly AP/AR, have been considered as part of the back office, usually comprised of support and administrative teams.
Now, however, businesses are expecting more from their AP function. Like leveraging data housed in their AP department to support better management of their working capital. Even further, freeing up cash to use for extending product lines and R&D.
But how do you get there when your staff is bogged down with manual repetitive processes that take too long and cost too much, frustrating internal leadership and valued suppliers?
In this article published to the Financial Executives International FEI Daily, finance teams will learn how to leverage AP automation to access data that will support better management of working capital and lead the overall business in productivity and contributions to the bottom line...all from the "back office."