In our era of labor shortages and rising inflation, business leaders need to focus on doing everything they can to operate more efficiently and maintain margins and profitability. A key way to do this is by deploying automation that enables organizations to become less reliant on labor.
When it comes to automation, one of the lowest-hanging fruits is accounts payable (AP). By automating AP and digitizing the procure-to-pay (P2P) process, you can do far more with fewer people, and you can scale workloads up and down without having to bring new employees on board. This is a great way to counter inflation and rising labor costs.
But the benefits of AP automation and digital procurement don’t stop with just lower labor requirements.