Finance departments must overcome automation doubts

of these two articles, I argued that there are multiple trends nudging companies, even in the mid-market, to move towards financial process automation .

Gain early-settlement discounts and eliminate late-payment penalties. Cumbersome manual and paper-based processes expose the organisation to the risk of incurring penalties for late payment, or render it unable to benefit from incentives to pay early. Improve employee productivity − a key benefit of FPA. In addition, the more automated the process, the more remote workers using mobile devices can achieve.

TransMontaigne, a supplier of essential energy infrastructure, reduced its invoice cycle time from 32 to six days, and improved its credit score by 20 points.

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