Perceptif For Optimized Accounts Payable
Looking for an effective solution to increase efficiency in your Finance Operation's Accounts Payable process?
Optimize your organization's processes to pay on time, every time, and increase days payable outstanding (DPO) with process mining and automation. As an AP Team Leader, Specialist, or Vice President optimizing working capital, wouldn't you like to maximize cash discounts and reduce operational costs?
At the end of the day, your goal is to maintain strong supplier relationships and pay open invoices on time, while making sure no money is wasted paying for things that should not be paid for - like undelivered product/services or invalid/duplicated invoices.
Perceptif pioneers an approach to unleash business excellence through Process Intelligence Automation. This powerful tool opens doors to improve your operational performance, ensuring competitive advantage.
with Process Mining
Unlock operational excellence with process mining & automation. Businesses unprepared to take the next step in digital transformation will quickly get left behind in challenging times.
1. Cost Reduction
Process mining, when implemented in Accounts Payable, can bring significant impact on your organization's cost performance.
To strengthen operational flow and minimize deviations that are draining precious time and money, leaders need clear understanding and visualization of actual processes to take data-driven recovery action. Identify bottlenecks for automation to run seamlessly.
When Accounts Payable processes are optimized to its best potential, watch as operational costs reduce while wastage is minimalized. Perceptif helps you do this with ease.
2. Digital Transformation
Process mining facilitates the digitalization and evolution of legacy Accounts Payable tools that are still the pillar of mature finance departments. Even with the popular adoption of Optical Character Recognition (OCR) in the 2000s that may have gotten rid of lengthy approval times and paper-based procedures, there is still room for improvement and modernization into a digital future.
Bottlenecks, invoice errors, and manual checking are still happening.
Can this be holding back your business performance?
This is where process mining comes in to streamline complex processes and accelerate your organization's digital transformation with better automation in Accounts Payable. Automate invoice processing, data validation, data capture, coding, distribution and such more effectively by adapting to new technology like Perceptif's, a step up from the legacy tools that have limited capabilities.
3. Drive Productivity
Perceptif lets you in on vital KPIs and operational insights to drive productivity of financial processes to gain tangible business benefits. We've seen case studies where leading European organizations reduce number of invoice corrects by 80% and reduce process lead times by 86%.
Another global business saved up to USD$1 million in duplicate payments in just months. That's incredible!
This is how process mining plays a role in making timely payments, accurate financial reports, regulation compliances, and precise audits bring better outcomes for the business. Eliminate inefficiencies that impact relationships with suppliers too. With AI-driven analytics, your business can be on its way to seamless, functional AP flows to drive productivity to new heights.
4. Maximize Compliance
Many problems can occur within the many Accounts Payable processes – between the receipt of invoice and its payment.
How does your current finance system detect non-compliant payments and take corrective action before it grows into bigger, more expensive problems?
You must be able to visualize and analyze actual processes from event log data - do this with Perceptif's process mining. You find the root causes of how specific action impacts your team's compliance with data, not guesswork.
Monitor how, where, and when your Accounts Payables processes deviates in real-time and maximize compliance with Perceptif today.
What Is Perceptif?
Perceptif is a powerful tool to unlock operational excellence with process mining & automation. It harnesses the power of big data technology and AI to pinpoint areas of process improvement. This is applied to multiple aspects of your business to save time, effort, and cost with minimal effort.
Request a demo or subscribe to any of Perceptif's Plans for immediate access. Got a question? Get in touch with our expert team of consultants.