How AP Automation Benefits Your Business
SAP Concur podcast discusses accounts payable (AP) automation. 70% of organizations lack automation in financial processes, and manual invoice processing takes up to 9.5 hours. Automation improves spend visibility, reduces risk, enhances cash flow forecasting, and simplifies audits. Start with high-risk areas and progress gradually.
Impact and considerations
AP automation significantly improves financial efficiency, reduces errors and fraud risk, and enhances spend control. For travel and expense management, automation streamlines processes and improves compliance.
Key points
- 70% of organizations lack automation; manual invoice processing takes up to 9.5 hours.
- Automation provides spend visibility, helps renegotiate contracts, and prevents duplicate payments.
- Automated workflows reduce internal and external risks and lower costs.
- Start with high-risk areas like T&E or invoice processing.
- Strong executive sponsor is crucial for driving change.
- PCAOB considers reducing audit documentation completion from 45 to 15 days.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 26 Jul 2023, 19:46
- Page published
- 14 Aug 2026, 08:22
- Last updated
- 26 Jul 2023, 19:46
- Original links
- SAP Concur Blog：How AP Automation Benefits Your Business (opens in a new tab)Primary source · en · Published 26 Jul 2023, 19:46