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Purchase-to-Pay Automation: Bridging the Gap Between Finance & Procurement

Purchase-to-pay solutions are widely recognized as an essential component of organizations’ finance and procurement departments. Businesses have enjoyed benefits including cost savings, increased accuracy, enhanced audit trails, and 60% productivity gains with automated workflows for invoice matching and exception handling – all as a result of purchase-to-pay solutions. As such, purchase-to-pay allows a business to move quickly and achieve organizational goals, connecting purchasing to finance, and realize order-to-payment processing.

However, despite purchase-to-pay’s well-established place in organizations’ finance processes, its performance is very rarely monitored or measured. This is because finance and procurement teams inherently approach purchase-to-pay processes from different perspectives, making it difficult for organizations to know what to measure, leading to businesses failing have a single version of the truth. But purchase-to-pay ...

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