A successful accounting department can efficiently pay for what’s needed to keep business moving, it receives timely payments for its own organization’s goods and services, and it’s mastered the entire procure‐to‐pay (P2P) process cycle.
However in many company, the Accounting department is challenged to deliver value to the bottom line, creating conditions for revenue generation rather than serving as a cost center. Those challenges include:
These challenges are eventually rooted in the paper and process. Overflow of paper that are not being able to be organized, reviewed, and shared efficiently, creates a barrier to an organization’s success and profitability.
Assessing these four factors puts P2P and information technology in the best position to wisely evaluate the technology available to address paper and process challenges.
Intelligence Automation Technology can help organizations to reduce paper from the P2P processes and also eliminate process challenges, that is from tracking the flow of an invoice, to identifying underperforming employees, to determining the number and prioritization of invoices requiring action. This technology enables right data appears at the right time after the first data input, and new information is continually added along the way.
Microsoft Dynamics ERP solution features technologies like this that enable visibility help to make accounting an important role for C‐level leadership. The visibility enables C‐suite to make real-time decisions refer to the realistic operations information and accurate forecasted information that are available.