Empowerment Vs. Disruption: How AP Automation Helps Every Role From CFO to Sales

Palette has published a whitepaper on how essential roles in an organization, from the CFO to sales, experience the direct benefits of AP automation in the context of their day-to-day tasks.

Chicago, United States - March 14, 2018 /PressCable/ —

Palette Software has published a white paper on how essential roles in an organization experience the direct benefits of AP automation in the context of their day-to-day tasks. Often missing from the conversation around technology solutions is what the experience for employees is, and the difference it makes. The white paper features “before” and “after” comparisons of roles such as CFO, plant manager, controller, maintenance worker, and more.

In one example a plant manager is confident that their plant’s financial performance for the period is profitable, only to find out from the controller (after the fact) that it was operating at a loss. With the right solution, pre-committed spending is highlighted, so there would be no surprises at the end of the month or end of the quarter.

“Controllers have their own unique problems”, said Roxanne Imrick, Director of Business Process Consulting for Palette, “their signature is not required on purchases because it carries no financial authorization. That means they have 100% responsibility and 0% authority where spending is concerned. The software gives them the opportunity to be part of the conversation around each and every purchase.”

Another role examined is the CFO. Problems arise when the reports CFOs receive are “editorial” in nature. Compliance is hard to enforce given that guidelines are buried in policy and procedures binders. After implementing a comprehensive solution, the CFO has hard data at hand, as well as the confidence compliance is being met because the company’s business rules are running in the background behind every transaction.

Palette’s argument in the paper is that, after thousands of iterations and the feedback of over 200,000 users, the outcome of a good AP automation solution is ultimately about job satisfaction. That means an intuitive interface for each role, the advantage of not having to learn “yet another system”, and having robotic process automation do the job it’s supposed to – remove the drudgery and errors inherent in manual paper processes.

PayStream Advisors have found that companies that invest in an AP solution have experienced productivity increases of up to 57%.

Beyond the ROI of an AP automation implementation is the potential for finance staff to do higher value work. Given that complex workflows containing 600 steps can be automated, and purchase orders with over 1,000 lines can be automatically matched to invoices and goods receipts, the opportunity to remove the friction in everyday business processes gives credence to the idea of digital transformation as an empowering force.

Download the Whitepaper: AP Automation Benefits from CFO to Sales

About Palette Software

The AP process affects many roles in an organization. Procedures are complex and unique to every industry. AP software has to be flexible enough to handle all the variables, be intuitive for users, and provide seamless integration.

Palette Software is a leading provider of Purchase to Pay automation, with 3,500 clients worldwide and approval ratings of 95%. Palette is a global solution for companies with multiple ERPs, multiple countries, currencies and tax rules. Customers get unlimited users with no user license costs, bulletproof compliance control and minimal I.T. involvement.

More information visit Palette AP Automation

Contact Info:
Name: Michael Cichy
Email: michael.cichy@palettesoftware.com
Organization: Palette Software
Address: 332 S Michigan Avenue 9th Floor, Chicago, Illinois 60604, United States
Phone: +1-508-341-8101

For more information, please visit https://www.palettesoftware.com/us

Source: PressCable

Release ID: 313705

Latest News

George scores 33 to help Thunder top Clippers 110-104

Dec 16, 2018

OKLAHOMA CITY — Paul George rendered the Los Angeles Clippers' traps and double-teams useless. Oklahoma City's forward shredded the Clippers for 33 points, seven rebounds and six assists in a 110-104 victory on Saturday night. "I'm fine being trapped," George said. "That's where we're going to need our guys the most — for them to make plays out of it. Honestly, I think that's the easiest way for me to get myself going because I make those plays early. And we burn them, we hurt them on those plays. They can't trap me anymore. They put two on the ball,...

Dunn, Markkanen rally Bulls late to beat Spurs, 98-93

Dec 16, 2018

SAN ANTONIO — Chicago Bulls coach Jim Boylen proudly says he learned a lot from San Antonio coach Gregg Popovich during his two seasons as a Spurs assistant. Boylen even learned how to withstand a crisis and it helped him beat his mentor. Kris Dunn scored 24 points, Lauri Markkanen added 23 and the Bulls rallied from a 21-point deficit in the second half to stun the Spurs 98-93 on Saturday night. "He has helped me grow as a coach and a man," Boylen said. "In a strange way, he's got a lot to do with this, too." A Spurs...

Alvarez stops Fielding in 3rd round for 3rd division title

Dec 16, 2018

NEW YORK — Canelo Alvarez threw a Garden party Saturday night. A short and powerful fiesta. Alvarez landed dozens of body punches, knocking down Rocky Fielding four times and stopping him in the third round to earn his third weight class title, taking the WBA super middleweight belt. Coming off his close decision against Gennady Golovkin three months ago to take the WBA and WBC middleweight titles, Alvarez could hear chants of "Canelo! Canelo!" long before he entered the Madison Square Garden ring for the first time. Throughout a lengthy undercard, it was clear who the sellout crowd of 20,112...

Suns beat Wolves, first 2-game win streak in almost a year

Dec 16, 2018

PHOENIX — Victories are rare for the Phoenix Suns. Winning streaks seem downright historic. Devin Booker returned from a six-game absence to score 28 points and Phoenix beat the Minnesota Timberwolves 107-99 on Saturday night, giving the Suns consecutive wins for the first time in almost a year. Deandre Ayton had 18 points and 12 rebounds for the Suns, including 10 points and five boards in the fourth quarter, when Phoenix pulled away. T.J. Warren added 21 points for Phoenix. After being sidelined with a strained hamstring, Booker returned to make 10 of 16 shots and added seven rebounds and...

James, Ball have triple-doubles, Lakers beat Hornets 128-100

Dec 16, 2018

CHARLOTTE, N.C. — LeBron James and Lonzo Ball gave the Lakers multiple triple-doubles in a game for just the second time, and Los Angeles routed the Charlotte Hornets 128-100 on Saturday night for its third win in four games. James had 24 points, 12 rebounds and 11 assists, while Ball had 16 points, 10 rebounds and 10 assists. Magic Johnson and Kareem Abdul-Jabbar are the only other Lakers to accomplish that feat in the same game, doing so on Jan. 22, 1982. James continued his dominance over Charlotte, improving to 27-1 in his last 28 games. He was unstoppable throughout...

About Us

The Final Scoreboard has fast, accurate live scores for you. We provide premium online content from in-depth analysis to the scores and statistics across American and European Sports.

Contact us: sales[at]thefinalscoreboard.com

Subscribe Now!