Businesses are rethinking their approach to accounts payable. It is no longer enough for accounts payable to pay suppliers on-time. Businesses now expect accounts payable to help drive profits.
But efforts to transform accounts payable from a back-office function – a cost center – and into a profit center are being undermined by manual and semi-automated accounts payable processes that:
- Cost too much
- Take too long
- Provide inadequate visibility
Fortunately, an emerging technology called artificial intelligence (AI) – computers and software that do things normally done by humans, and do it better over time – uniquely address these obstacles.