Ardent Report: AI-Fueled AP Automation Reshapes Expense Management
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Record AP automation and AI adoption directly affect corporate expense management, cash flow, and supplier payment strategy, while tariffs and geopolitical risk add invoicing and compliance complexity.
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- SAP Concur BlogArdent Report: AI-Fueled AP Automation Reshapes Expense Management
The annual AP trends and predictions report from Ardent Partners, sponsored by SAP Concur, shows that 74% of AP departments planned to use artificial intelligence in some way by the end of 2024, a record-high adoption rate. AI and AP automation are improving invoice processing, fraud detection, forecasting, and cash flow management while freeing AP staff to focus on exceptions. The report also notes that AI risks must be addressed through governance and security controls, and that geopolitical conflicts and tariffs could raise prices and inflation, increase global invoicing complexity, and disrupt supply chains. It predicts that 80% of routine tasks will be handled by AP automation within t…