Today, technology is positioning itself as the driving force in companies' efficiency and productivity, however, not all companies are embracing the rapidly changing accounting industry. Those that are embracing the technological changes are able to remain competitive. As a finance and accounting leader, you need to thoroughly understand the benefits and importance of incorporating AP automation into your accounting department.
Accounts Payable technology is anything but static. It's a key factor for your business' growth. Just like a gardener has to take stock of his or her plot, AP teams can and should select technologies that will nourish their business' overall growth.
As a finance leader or accounting professional, you may ask, "How do these technologies impact finance functions and workflows?", "What transformations can be predicted?", or " How will this technology shape tomorrow’s finance department?" This article takes a closer look at Artificial Intelligence in accounting and accounts payable automation.
"Artificial intelligence is boosting efficiency and making life easier for thousands of AP professionals today."
- Laurent Charpentier, in the article "Accounts Payable Artificial Intelligence Might Be Your Best Co-Worker"
Organizations will need to embrace robotics process automation (RPA) and other emerging technologies in order to scale gracefully and remain competitive. One way Yooz COO Laurent Charpentier explains that in RPA accounting “Machine learning, AI, and RPA will go beyond invoice routing to take purchase-to-pay process automation to the next level.”
OCR: Another one of those technical buzzwords that we’re hearing a lot about these days in finance and technology. But what is it? More importantly what isn’t it? How does it even work? And how does it make a difference in the AP workflow? In this blog, we’ll answer all your questions about invoice scanning OCR in AP automation software.
When we look into how grand fathered and up and coming businesses are approaching robotic process automation in finance, it's clear that cutting-edge finance and accounting departments are starting to become more open-minded about letting the invisible software-based robots enter their offices. RPA encourages companies to adapt their processes to the rapidly changing technologies to increase efficiency and productivity.
Are you ready to learn more about how technology in Finance and Accounting is being utilized for Accounts Payable or have any question about AP automation? We'd love to hear from you!
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