Collaborating for faster invoice processing
In the past, finance and operations departments have been siloed off from each other, operating independently without much attention to what the other was doing. But a worthwhile procurement and accounts payable software solution ties them to each other effectively so that they can collaborate and move forward together in a synergistic manner.
Nowadays, CFOs are developing more strategic approaches to their cost and budget management, taking the lead in overseeing procurement functions. They are building transparent, streamlined procure-to-pay operations in their organizations by remastering their business processes and investing in new collaboration technologies. Both accounts payable and procurement functions benefit when they can collaborate harmoniously.
True cooperation between accounts payable and procurement yields greater cost savings, improved processes, and better compliance. It’s too important to ignore.