Digitisation is a top priority for most if not all businesses that want to remain agile and efficient. Invoice processing is one of the most critical areas where digitisation has far-reaching implications for the success of your brand.
By automating e-invoicing, you can provide accurate real-time data, complying with tax reporting mandates. You can also process payments in hours rather than days, boosting your company’s liquidity.
But, far more than that –– as Tungsten Network CEO Paul Cooper explains in an interview with Shared Services Link (SSL) –– Accounts Payable automation is really at the centre of any brand’s digitisation roadmap.
This article is a recap of the highlights from the interview mentioned above with Susie West from Shared Services Link.
Automating Invoice processing should be top of any CFO’s to-do list
Paul Cooper notes from experience as a CFO that all business departments can argue their case for digitisation, but AP teams are crucial for developing a brand’s competitive edge.
He explains that CFO’s use real-time invoicing data to plan budgets and make vital business decisions quickly and, more importantly, accurately. He also explains that it may no longer be viable for businesses to semi-manually process their incomings and outgoings in the coming years.
Invoice data is so vital to the functioning of a business that automated invoicing processing will have far-reaching implications both upstream and downstream of a business’s transactional connections –– everything from supplier contract management to justifying stakeholder investment.
Tungsten Network’s long-term business ties proves the value-adding benefits of AP Automation
Over 21 years, Tungsten Network has established loyal client relationships and has witnessed first-hand the positive impact of e-invoicing. Paul Cooper explains how any business case for automating AP should note that the benefits are sustainable long after the initial efficiency KPIs have been met.
Automating your invoicing offers businesses more opportunities to boost sales figures, such as making it easier to apply discount codes for customers while maintaining up-to-the-minute financial records.
E-invoicing technologies will continue to develop fast –– keep up with the big trends
For more information on optimising your Accounts Payable processes, download the Ardent Partner’s latest white paper, sponsored by Tungsten Network, which outlines AP big trends and predictions for 2022.
If you would like to find out more about e-invoicing priorities when it comes to regulatory compliance and cost efficiency, check out this interview now.