As 2020 became the year of working remotely, 2021 is set to become the year that businesses ramp up their digital transformation projects.
By transforming the core Procure-to-Pay (P2P) and Order-to-Cash (O2C) cycles, organisations can increase their efficiency to stay ahead of the competition and make this year a success.
But let’s rewind a little… think your business is doing ok? Keeping its head above water? In the current climate, you could be forgiven for thinking that digitalisation should be delayed until the economy settles down. But as the world continues to evolve, your business needs to advance as well – and here’s why:
1) Even if you’re not changing, your competition is
2) You could be saving large amounts of time and money
3) Your customers and suppliers are demanding it
4) Your employees are demanding change too
5) Your business’s future depends on it
This is where automation comes in. It’s one of those great buzzwords but what does it actually mean?
Process automation is the reduction or elimination of time-consuming, manual activities, which gives back valuable time for staff to work on more strategic tasks.
These manual processes occur throughout the P2P and O2C cycles – e.g. PO creation and tracking, invoice approvals, order processing, remittance, cash collection… the list goes on. And what’s more, the processes within these cycles are inextricably intertwined — a problem in one area creates a chain reaction that ultimately affects other core processes leading to high costs, long processing times, and a lack of efficiency across the business.
Automation put simply: that paperwork pile on your desk? Gone. Disjointed systems with no visibility? Not any more. Bottlenecks and delays? A thing of the past.
So your business is ready to start digital transformation, but where do you begin?
What should you look for in a process automation system?
Flexible, cloud-based automation solutions are proving to be the most effective way to achieve P2P and O2C efficiency, saving organisations significant time, money and resources, and setting them up for success should disruptions in business occur.
And here’s where Esker comes in. But don’t just take our word for it. Take a look at our customer success stories for automation examples from across the O2C and P2P cycles.
Esker’s single digital platform allows you to transform your entire enterprise from end to end, working alongside and integrating with your existing systems and ERPs, and uniting your business with customers and suppliers like never before.
Ready to take your business’s digital transformation into 2021?
Contact us for a free demo of our cloud-based automation solutions, or download our latest white paper for further reading: Digital Transformation of Core Business Cycles: How to create a highly efficient enterprise with AI-driven automation.
