When the pandemic ground everything to a halt last year, manufacturers were caught between a rock and a hard place. Not only were many workers forced to shelter in place and work at home, but most suppliers had their operations disrupted overnight, too. The going got tough, but shrewd manufacturers were able to weather the storm.
As the economy recovers and manufacturers experience an uptick in production, there’s no better time than now to look for areas to reduce costs and prepare for the next growth stage. That way, not only will any organization be prepared for the next unforeseen challenge that comes its way, but it will also be in the perfect position to scale efficiently and profitably.
To improve agility, one easy area manufacturers can invest in is accounts payable (AP)/procure to pay (P2P) automation. By giving their accounts payable function an overhaul and equipping AP professionals with modern tools designed to make work easier and more productive, manufacturers can build a more agile operation, future-proofing their stance to AP along the way.