From rising interest rates to persistent inflation, middle-market organizations that are supply-chain-centric continue to face a number of mounting economic pressures.
In an effort to control cash, reduce costs and optimize cash flow — which, in the wake of the collapse of Silicon Valley Bank, is particularly important for businesses that rely on regional banks — many companies are turning to accounts payable (AP) automation tools to build a more efficient accounting function capable of doing more with less.
Large enterprises tend to be the early adopters of all technologies because their problems are usually bigger and cost more, so they stand to benefit the most. The good news is that AP automation technology is now mature enough that middle-market organizations can take advantage of solutions that are quick to implement, don’t require IT resources to manage and are easy to use.
By introducing AP automation technology to their operations, middle-market companies that rely heavily on supply chains can accomplish more than before — all while maximizing margins, getting control over finances and making suppliers happier.
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