Optimising accounts payable (AP) operations or even unlocking additional revenue is an ever-present objective for finance leaders. Technology helping companies digitise the AP process has been around for quite a while, yet, as one of our prospects once said: “everyone has pretty dashboards.” So how do you pick the solution that best reinforces and supplements the existing technology, operations and processes in your company?
The 2021 Gartner® Market Guide for Accounts Payable Invoice Automation Solutions features the various benefits of implementing AP solutions: “AP invoice automation is something that all organisations can benefit from and, in many countries, government regulations make this process easier than ever. Invoice automation allows organisations more flexibility with their cash, reduces late payments, improves supplier relationships, and reduces the cost to process an invoice. A reduction in supplier invoice status enquiries is an additional benefit, which reduces not only AP workloads but also the workload on people raising POs.”
Gartner report provides finance & IT leaders with market trends as well as key solutions highlights, helping them understand how their requirements impact the supplier selection.
In that vein, we are thrilled to be named among the market players in the Accounts Payable Invoice Automation Solutions (APIA) space. We (at Esker) believe that this validates our development and innovation strategy to drive efficiency in our customer’s AP processes and build strong supplier relationships that support future growth.
Esker’s APIA solution uses the power of artificial intelligence and data analysis to do the heavy lifting for jobs such as routing, coding and verifying invoices, or detecting anomalies so that a larger number of invoices can be processed faster and with more accuracy. This, in turn, ultimately helps finance teams to better manage cash.
Gartner, “Market Guide for Accounts Payable Invoice Automation Solutions,” Micky Keck, Balaji Abbabatulla, July 19, 2021.
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